MOVING AVERAGE INVENTORY COST
\mˈuːvɪŋ ˈavɹɪd͡ʒ ˈɪnvəntɹˌi kˈɒst], \mˈuːvɪŋ ˈavɹɪdʒ ˈɪnvəntɹˌi kˈɒst], \m_ˈuː_v_ɪ_ŋ ˈa_v__ɹ_ɪ_dʒ ˈɪ_n_v_ə_n_t_ɹ_ˌi k_ˈɒ_s_t]\
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Inventory costing method of averaging after each acquisition. Average unit cost is recalculated by adding the acquired units cost to the in-inventory units cost and dividing by the new total units number. This method is used under a perpetual inventory system.
By Henry Campbell Black
Word of the day
basidiomycota
- comprises fungi bearing the spores on basidium: Gasteromycetes (puffballs); Tiliomycetes (comprising orders Ustilaginales (smuts) and Uredinales (rusts)); Hymenomycetes (mushrooms; toadstools; agarics; bracket fungi); in some classification systems considered a division of kingdom comprises fungi bearing spores on a basidium; includes Gasteromycetes (puffballs) Tiliomycetes comprising the orders Ustilaginales (smuts) and Uredinales (rusts) Hymenomycetes (mushrooms, toadstools, agarics bracket fungi).