The average cost method assigns a cost to inventory items based on the total cost of goods purchased or produced in a period divided by the total number of items purchased or produced. The average cost method is also known as the weighted-average method.
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Fazal-e-Rabi Answered question
The Average Cost is the per unit cost of production obtained by dividing the total cost (TC) by the total output.
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Haniya Ahmad Khan Answered question
Average cost is the cost of producing each unit of output.
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