Presented below is information related to Blowfish radios for the Hootie Company

Question

Presented below is information related to Blowfish radios for the Hootie Company for the month of July.

Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.)

Weighted-average cost=________________

Date Transaction Units In Unit Cost Total Units Sold Selling Price Total July 1 Balance 170 $3.77 $  641 6 Purchase 1,360 3.31 4,502 7 Sale 510 $6.91 $ 3,524 10 Sale 510 7.15 3,647 12 Purchase 680 4.80 3,264 15 Sale 340 7.50 2,550 18 Purchase 510 5.74 2,927 22 Sale 680 7.75 5,270 25 Purchase 850 5.08 4,318 30 Sale 340 7.95 2,703    Totals 3,570 $15,652 2,380 $17,694

Explanation / Answer

Average unit cost = (3.77+3.31+4.80+5.74+5.08)/5

                          = $4.54

Weighted-average round the average unit cost to the nearest one tenth of one cent

= $4.50

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