I figured out how to compute the FIFO AND LIFO. However, I cannot seem to figure out how to calculate the weighted average. I thought it was add the two together and divide by 2, but it will not accept that answer. Please explain step by step how to figure out the weighted average, thank you.

[The following information applies to the questions displayed below.]

The following information pertains to Baxter Company for 2013:

Beginning inventory	65	units	@	$	14
Units purchased	250	units	@	$	20

Ending inventory consisted of 29 units. Baxter sold 286 units at $35 each. All purchases and sales were made with cash.

Required:

a.	Compute the gross margin for Baxter Company using the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. (Round cost per unit to 4 decimal places and your final answers to the nearest whole dollar amount.)

	Gross Margin
FIFO	$ 4,680
LIFO	$ 4,506
Weighted average	$ ?????