please explain to me in steps on how to figure out average cost for each unit: P

Question

please explain to me in steps on how to figure out average cost for each unit:

Premier 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 8 $70 July 6 6 July 11 3 $75 July 14 3 July 21 5 $80 July 27 3 Premier Center began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Calculate average cost for each unit.

Explanation / Answer

july1= 70

july6=70

july11= (2*70+3*75)/2+3= 73

july 14=73

july21=(2*75+5*80)/2+5=78.6

july27=78.6

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