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During the year, Wright Company sells 500 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year Number of
During the year, Wright Company sells 500 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year Number of Unit Units Transaction Cost Total Cost $68 2,728 71 19,178 76 Jan Beginning inventory May. 5 Purchase Nov. 3 Purchase 48 278 228 16,728 538 $38,618 Calculate ending inventory and cost of goods sold for the year, assuming the company uses weighted-average cost. (Round your average cost per unlt to 4 declmal places.) Cost of Goods Available for Sale Cost Weighted Average Cost rage Cost of Goods # of units | # of units sold Average Cost | Cost of Goods per Unit Average Cost Ending Available for Sale # of units | Cost per | unit in ending Sold inventory per unit Inventory Beginning Inventory 2,720 Purchases May 5 270 19.170 Nov.3 16,720 Total 530 38,610
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