Question

current attempt in progress in its first month of operations, concord company made three purchases of merchandise in the following sequence: (1) 320 units at $7, (2) 430 units at $8, and (3) 250 units at $9. (a) calculate the average unit cost. (round answer to 2 decimal places, e.g. 15.25.) average unit cost $ etextbook and media save for later attempts: 0 of 5 used submit answer

Explanation:

Step1: Calculate total cost of purchases

$\text{Total Cost} = (320 \times 7) + (430 \times 8) + (250 \times 9) = 2240 + 3440 + 2250 = 7930$

Step2: Calculate total number of units

$\text{Total Units} = 320 + 430 + 250 = 1000$

Step3: Compute average unit cost

$\text{Average Unit Cost} = \frac{\text{Total Cost}}{\text{Total Units}} = \frac{7930}{1000} = 7.93$

Answer:

$\$7.93$