In the weighted average let the weight of each unit be 1 so in beginning 300 + 6000 = 6300 units were under process in ending 5770 were transferred, so 6300 - 5770 = 530 units were in work in process inventory at the end.
A technique known as a weighted average accounts for the varied levels of significance of the values in a data collection. Each number in the data set is multiplied by a predefined weight before the final computation is completed when calculating a weighted average.
The accuracy of the data can be enhanced by a weighted average. Investors in stocks use a weighted average to keep track of the cost basis of the shares they have acquired over time. The method is used to calculate inventory at the beginning and at the end.
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