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Pharoah, a chain of candy stores, purchases its candy in bulk from its suppliers. For...

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Accounting

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Pharoah, a chain of candy stores, purchases its candy in bulk from its suppliers. For a recent shipment, the company paid $2400 and recelved 7800 pieces of candy that are allocated among three groups. Group 1 consists of 2320 pieces that are expected to sell for $0.15 each. Group 2 consists of 5140 pieces that are expected to sell for $0.28 each. Group 3 consists of 340 pieces that are expected to sell for $0.64 each. Using the relative sales value method, what is the cost per item in Group 3 ? $0.34 $0.49 $0.64 $0.76

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