In June, an investor purchased 250 shares of Oracle (an information technology company) stock at $23 per share. In August, she purchased an additional 360 shares at $23 per share. In November, she purchased an additional 510 shares, but the stock increased to $29 per share. What is the weighted mean price per share? (Round your answer to 2 decimal places.)

Question
Asked Sep 19, 2019

In June, an investor purchased 250 shares of Oracle (an information technology company) stock at $23 per share. In August, she purchased an additional 360 shares at $23 per share. In November, she purchased an additional 510 shares, but the stock increased to $29 per share. What is the weighted mean price per share? (Round your answer to 2 decimal places.)

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Expert Answer

Step 1

Number of share purchased in June is 250 at $23 per share. Number of share purchased in August is 360 at $23 per share and number of share purchased in November is 510 at $29 per share.

Step 2

The weighted mean price per share...

Share price
Share pricex Weight
Number of shares
(Weight)
250
23
5750
8280
23
360
29
510
14790
Total
1120
28820
Weighted mean price per share =Share pricex Weight
Weight
28820
1120
=25.73
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Share price Share pricex Weight Number of shares (Weight) 250 23 5750 8280 23 360 29 510 14790 Total 1120 28820 Weighted mean price per share =Share pricex Weight Weight 28820 1120 =25.73

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