What is the cost per item in group, Accounting Basics

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What is the cost per item in group

Group 1 consists of 2,500 pieces that are expected to sell for $0.25 each.
Group 2 consists of 5,500 pieces that are expected to sell for $0.60 each.
Group 3 consists of 500 pieces that are expected to sell for $1.20 each.

Using the relative sales value method, what is the cost per item in group 1?

Confectioners, a chain of candy stores, purchases its candy in bulk from its suppliers. For a recent shipment, the company paid $3,000 and received 8,500 pieces of candy that are allocated among three groups. Group 1 consists of 2,500 pieces that are expected to sell for $0.25 each. Group 2 consists of 5,500 pieces that are expected to sell for $0.60 each. Group 3 consists of 500 pieces that are expected to sell for $1.20 each. Using the relative sales value method, what is the cost per item in group 1?

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Accounting Basics: What is the cost per item in group

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Accounting Basics: What is the cost per item in group

Reference No:- TGS0705671

Recent Questions Asked Accounting Basics

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