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Calculate the cost per lot utilizing the relative sales

Question: Toms River Developers purchased land for $1 million that can be divided into 800 lots.

These lots are of different sizes and shapes and are sorted into three groups: A, B, and C.

Calculate the cost per lot utilizing the relative sales value method from the information below.

Lots Number of Lots Sales Price Per Lot

A 200 $5,000
B 200 $3,000
C 400 $2,250

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Accounting Basics: Calculate the cost per lot utilizing the relative sales

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Accounting Basics: Calculate the cost per lot utilizing the relative sales

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