Explain Average Price Method
Give a brief introduction of the term ‘Average Price Method’?
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Average Price Method - is the method through that the value of total assets or expenditures is supposed to be equivalent to the average cost of the total assets or expenditures. Under this method, it is supposed that the cost of inventory is based on the average cost of the goods accessible for sale during the era. It is calculated through dividing the total cost of goods by the total units which give a weighted average unit cost for the units of the closing inventory.
Accounting Theory 7edition, by Godfrey J., Hodgson A., Tarca A., Hamilton J., and Holmes S. Chapter 2: Theory in Action 2.2 “Normative Theories of Investment” Chapter 3: Theory in Action 3.1 “Companies should come clean on the value of leases on their books” Chapter 5: Theory in A
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