Lambert Center began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales.
|
Purchases
|
|
|
Date
|
Units
|
Unit Cost
|
Sales Units
|
|
July 1
|
11
|
$101
|
|
|
July 6
|
|
|
8
|
|
July 11
|
5
|
$108
|
|
|
July 14
|
|
|
5
|
|
July 21
|
7
|
$116
|
|
|
July 27
|
|
|
5
|
Calculate average cost for each unit.