I'm not sure whether I should use 'of each' or 'for each' in the following sentence. Which is correct?

"The process will then update the carriage element of the cost using a formula to identify the individual cost of each item based on the number of seats."

or

"The process will then update the carriage element of the cost using a formula to identify the individual cost for each item based on the number of seats."

I way prefer the 'of' version. I think the 'for' works though.

..the cost of a car
..the cost for a car

They both work, but the former is more natural.

'Cost for' is usually followed by a type of service or even the word service itself.

Cheers

Craig