sing the  moving average  -   perpetual inventory method; compute for the units unsold and its total cost. Jan. 1  beginning balance    3,600 units @P320 Jan 8   purchases                  3,200 units@310       13  sale                           5,000 units       14  sales return               1,200 units       29  purchase                 12,000 units@300       30  purchase return        2,500 units

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.