Using the simple average method; what is the cost per unit of the closing stock?

Use the information below to answer the question.

Aug. 1 Received 20 units at N60 each
Aug. 6 Received 20 units at N68 each
Aug. 10 Issued 16 units
Aug. 20 Received 40 units at N80 each
Aug. 31 Issued 48 units

A. N80
B. N74
C. N64
D. N60

Correct Answer:

Option A – N80