Usually means: Total cost divided by quantity.
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We found 15 dictionaries that define the word average cost:

General (7 matching dictionaries)
  1. average cost: Vocabulary.com
  2. average cost: Dictionary.com
  3. Average cost: Wikipedia, the Free Encyclopedia
  4. average cost: Rhymezone
  5. average cost: FreeDictionary.org
  6. average cost: Mnemonic Dictionary
  7. average cost: TheFreeDictionary.com

Business (6 matching dictionaries)
  1. MoneyGlossary.com (No longer online)
  2. AVERAGE COST: Accounting Glossary
  3. Average cost: Moneyterms
  4. average cost: Financial dictionary
  5. Accounting, Business Studies and Economics Dictionary (No longer online)
  6. BusinessDictionary.com (No longer online)

Medicine (1 matching dictionary)
  1. average cost: Medical dictionary

Tech (1 matching dictionary)
  1. Glossary of Energy Terms (No longer online)

(Note: See average_costing as well.)

Definitions from WordNet (average cost)

noun:  total cost for all units bought (or produced) divided by the number of units

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