Refer to the information in BE65. Calculate ending inventory and cost of goods sold for 2015, assuming

Question:

Refer to the information in BE6–5. Calculate ending inventory and cost of goods sold for 2015, assuming the company uses weighted-average cost.

In BE6–5, During 2015, Wright Company sells 470 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for 2015.

Unit Number of Units 60 250 200 510 Total Date Transaction Beginning inventory Purchase Purchase Cost Cost $82 85 90 $ 4

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...