Brief Exercise 6-7 Calculate ending inventory and cost of goods sold using weighted-average cost (LO6- 3) During the year, Wright Company sells 370 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Date Jan. 1 1 May. 5 . 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Number of Units 50 215 130 395 == Unit Cost $ 75 78 83 Total Cost $ 3,750 16, 770 10,790 $31,310 Calculate ending inventory and cost of goods sold for the year, assuming the company uses weighted average cost. (Round your average cost per unit to 4 decimal places.) Weighted Average Cost Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Ending Inventory - Weighted Average Cost Cost Average cost of Goods # of units # of units Cost per Available for # of units Average Cost Cost of Goods Average Cost Ending sold unit per Unit Sold in ending per unit Inventory Sale inventory 50 $ $ 3,750 Beginning Inventory Purchases: May 5 Nov.3 Total 215 16,770 130 10,790 31,310 395 $ 370 $ 0.00 $ 0.00