$558,800 was the sales revenue, whereas $280,000 was spent on purchases (freight in excluded), $66,000 was spent on selling and administrative charges, 13,000 was spent on freight in, 52,000 was the beginning inventory, and 54,900 was the ending inventory. What is the selling price for a product per unit?
The cost to sell is $19.21.
The following formula is used to determine each item's unit cost:
starting stock of goods $52,000
Include: Purchases and freight total $290,000 ($280,000 plus $13,000).
Goods ending inventory fell by $54,900.
the $290,100 price of the goods that were sold
Currently, the cost of goods sold per unit is $277,100 divided by 15,100, which equals $19.21.
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