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Average Cost Flow Assumption. A calculation used by companies to monitor inventory goods. The average cost flow assumption is one of a variety of cost flow assumption methods used to determine the cost of goods sold (COGS) and ending inventory. Companies use one or more methods to make certain assumptions regarding which goods have been sold and which remain in inventory.
There are two cost-flow assumptions: first-in-first-out (FIFO) and weighted average. In the weighted average method of process costing, the costs are averaged out and evenly applied to both units transferred out and units in closing work in process.et us prepare a process cost sheet under weighted average method using the following data for Company ABC's packaging department for the month of December 2013.