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During the year, Wright Company sells 470 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Number of
During the year, Wright Company sells 470 remote-control airplanes for $110 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 60 $ 82 $ 4,920 Purchase 250 85 21,250 Purchase 200 510 90 18,000 $44,170 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 # of units Cost per unit Cost of Goods Available for Sale Average Cost of Goods Available for Cost of Goods Sold - Weighted Average Cost Ending Inventory - Weighted Average Cost Sale # of units Average Cost sold per Unit Cost of Goods Sold # of units in ending inventory Average Cost per unit Ending Inventory Beginning Inventory 60 $ 4,920 Purchases: May 5 Nov.3 Total 250 21,250 200 18,000 510 $ 44,170
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