Coachlight Inc. has a periodic inventory system. The company purchased 280 units of inventory at $17.00 per unit and 460 units at $18.00 per unit. What is the weighted average unit cost for these purchases of inventory? (Round your final answer to two decimal places.)

$17.62

Explanation:

Given: Number of unit purchased= 280 at $17 per unit.

           460 units purchased at $18.00 per unit.

Now, finding weighted average unit cost for these purchases of inventory.

Weighted average cost is calculated by dividing total cost of inventory purchased with total number of unit purchased.

Weighted average cost=

⇒ Weighted average cost=

⇒ Weighted average cost=

∴ Weighted average cost=

Hence, weighted average unit cost for these purchases of inventory is $17.62.

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