Accounting for Materials | Perpetual System | Simple & Weighted Average Method |Class 12 & BBS First
Автор: My Teacher
Загружено: 2025-07-18
Просмотров: 1367
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In this video, we explore one of the most important chapters in cost accounting: Accounting for Materials under the Perpetual Inventory System, focusing on Simple Average and Weighted Average methods. This topic is especially designed for Class 12 and BBS 1st Year students.
🔍 What You’ll Learn:
What is the Perpetual Inventory System?
Meaning of Simple Average Method
Meaning of Weighted Average Method
Step-by-step process of recording materials using both methods
How to compute issue prices based on average cost
Real examples to help you understand clearly
🧾 Simple Average Method assigns the issue price as the simple average of all available purchase prices, ignoring quantities. It’s easy but less accurate when purchase quantities vary.
📊 Weighted Average Method calculates average cost by considering both price and quantity. It gives a more realistic value of issued inventory and closing stock.
🔄 Under the Perpetual System, inventory records are updated continuously after each transaction (issue or purchase), helping to track real-time stock and cost.
🎯 Perfect for NEB board exam prep and university-level basics!
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