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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
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 Transaction Beginning inventory Units 60 Cost Total Cont $82 $ 4,920 May. S Nov. 3 Purchase Purchase 250 85 21,250 200 510 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.) Cost Weighted Average Cost of Goods Available for Sale Average #of units Cost per unit Cost of Goods Available for Sale Beginning Inventory 60 $ 4,920 Purchases: May 5 250 21,250 Nov.3 200 18,000 Total 510 $ 44,170 Cost of Goods Sold-Weighted Average Ending Inventory - Weighted Average Cost # of units Average Cost Cost of Goods Sold per Unit sold Cost # of units in ending inventory Average Cost per unit Ending Inventory
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