What does average cost mean?
Definitions for average cost
av·er·age cost
This dictionary definitions page includes all the possible meanings, example usage and translations of the word average cost.
Princeton's WordNet
average costnoun
total cost for all units bought (or produced) divided by the number of units
Wikipedia
Average cost
Under the 'average cost method', it is assumed that the cost of inventory is based on the average cost of the goods available for sale during the period. The average cost is computed by dividing the total cost of goods available for sale by the total units available for sale. This gives a weighted-average unit cost that is applied to the units in the ending inventory. There are two commonly used average cost methods: Simple weighted-average cost method and perpetual weighted-average cost method.
Wikidata
Average cost
In economics, average cost or unit cost is equal to total cost divided by the number of goods produced. It is also equal to the sum of average variable costs plus average fixed costs. Average costs may be dependent on the time period considered. Average costs affect the supply curve and are a fundamental component of supply and demand.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of average cost in Chaldean Numerology is: 4
Pythagorean Numerology
The numerical value of average cost in Pythagorean Numerology is: 8
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"average cost." Definitions.net. STANDS4 LLC, 2024. Web. 6 May 2024. <https://www.definitions.net/definition/average+cost>.
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