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During the year, Wright Company sells 450 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 450 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 Transaction Units Cost Total Cost Beginning inventory 50 Purchase 245 $81 84 $ 4,050 20,580 Nov. 3 Purchase 190 485 89 16,910 $41,540 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 Average Cost of Goods Sold-Weighted Average Ending Inventory - Weighted Average Cost Cost # of units Cost per Cost of Goods Available for sold unit Sale # of units Average Cost Cost of Goods Sold per Unit # of units in ending inventory Average Cost per unit Ending Inventory Beginning Inventory 50 $ 4,050 Purchases: May 5 Nov.3 Total 245 20,580 190 16,910 485 S 41,540 $ 0.00 $ 0.00
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