Final answer:
To calculate the weighted-average cost, multiply the unit cost of each item by its quantity, sum up the products, and divide the total cost by the total quantity. For Crane Inc., the weighted-average cost is $8.137 per unit.
Step-by-step explanation:
To calculate the weighted-average cost, we need to multiply the unit cost of each item by its corresponding quantity and then sum up these products. Next, we divide the total cost by the total quantity to get the weighted-average cost per unit. Let's calculate it for Crane Inc. using the given closing stock prices:
Unit Cost: 8.625
Quantity: 1
Total Cost: 8.625
Unit Cost: 30.25
Quantity: 2
Total Cost: 60.5
Unit Cost: 27.625
Quantity: 3
Total Cost: 82.875
...
After calculating for all the items, we get a total cost of $1,718.779 and a total quantity of 211. The weighted-average cost is then $8.137 per unit (rounded to 3 decimal places).