To find the total cost of the fabric, you can multiply the price per meter by the number of meters bought.
The price of the fabric is $7.60 per meter, and Lance bought 5.5 meters.
The calculation is as follows:
\[ \text{Total cost} = \text{Price per meter} \times \text{Number of meters} \]
\[ \text{Total cost} = 7.60 \times 5.5 \]
Now, let's calculate it:
\[ 7.60 \times 5.5 = 41.80 \]
Therefore, the total cost of the fabric is $41.80.