Enter the total number of items purchased and the total cost of those items into the calculator to determine the cost per item. This calculator can also evaluate either the number of items or the total cost if given the other variables.
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Cost Per Item Formula
The following equation is used to calculate the Cost Per Item.
CPI = TC / N
- Where CPI is the cost per item ($/item)
- TC is the total cost of all items ($)
- N is the number of items
To calculate the cost per item, simply divide the total cost of all items by the number of items.
What is Cost Per Item?
Definition:
A cost per item is a term used to describe the average cost of one item in a group of 2 or more items.
How to Calculate Cost Per Item?
Example Problem:
The following example outlines the steps and information needed to calculate the Cost Per Item.
First, determine the total number of items purchased. In this case, we are looking at 10 different pieces of clothing.
Next, determine the total cost of all of the items. In this case, all the items come out to $320.00.
Finally, calculate the cost per item using the formula above:
CPI = TC / #I
CPI = $320.00 / 10
CPI = $32.00/item
