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In its first month of operations, Ivanhoe Company made three purchases of merchandise in the following sequence: (1) 300 units at $4, (2) 400 units

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In its first month of operations, Ivanhoe Company made three purchases of merchandise in the following sequence: (1) 300 units at $4, (2) 400 units at $5, and (3) 500 units at $8. Ivanhoe uses a periodic inventory system. (a1) Calculate weighted-average unit cost. (Round answer to 3 decimal places, e.s. 5.125.)

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