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During the year, Wright Company sells 370 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Number of
During the year, Wright Company sells 370 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Number of Unit Date Jan. 1 May. 5 Nov. 3 Transaction Units Cost Total Cost Beginning inventory 50 $ 75 $ 3,750 Purchase Purchase 215 78 16,770 130 395 83 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 Beginning Inventory Purchases: May 5 Nov.3 Total Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Ending Inventory - Weighted Average Cost Cost # of units Average Cost per unit Cost of Goods Available for Sale # of units Average Cost Cost of Goods sold per Unit Sold # of units in ending inventory Average Cost per unit Ending Inventory 50 $ 3,750 215 130 395 EA 16,770 10,790 31,310 $ 0.00 EA 0.00
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