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What implications / consequences would changing inventory items from latest cost to weighted cost have?
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Just thought I'd update this post, Implications would be on the inventory valuation, since your reporting the current latest cost whatever you last brought in is the latest cost, if you change to weighted an average then it will find an average between your latest cost say R10,000 and then if bring in R20,000 set to weighted then it will have an average of R15,000 on the valuation for that item.
Not advisable to do this 'during the year' at the end of a year would be recommended, also you can not do this for previous periods.
Just in-case anybody was wondering thought I would share my findings.
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