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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 three different types of inventory costing methods: FIFO (First-in, First-out), LIFO (Last-in, Last-out), and Weighted Average. Example Some companies choose to use the weighted average method of costing inventory because it doesnât require them keep track of individual units of inventory. Instead, the weighted average method of costing inventory assigns an average cost to each piece of inventory when it is sold.