LoBianco Company’s record of transactions

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Question 4

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LoBianco Company’s record of transactions for the month of April was as follows.

Purchases

Sales

April 1

(balance on hand)

744

@

$6.0

April 3

620

@

$9

4

1,860

@

6.3

9

1,612

@

9

8

992

@

6.5

11

744

@

11

13

1,488

@

6.8

23

1,488

@

11

21

868

@

6.9

27

1,116

@

13

29

620

@

7.3

5,580

6,572

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(a1)

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

Average cost per unit

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6.51