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During the year, Wright Company sells 520 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Number
During the year, Wright Company sells 520 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Number of Unit Total Date January 1 May 5 Transaction Units Cost Cost November 3 Beginning inventory Purchase Purchase 50 $67 $3,350 275 70 19,250 225 75 16,875 550 $39,475 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 of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Weighted Average Cost Number of units Average Cost per unit Cost of Goods Available for Sale Number of units sold Average Cost per Unit Cost of Goods Sold ending inventory Average Cost per unit Ending Inventory - Weighted Average Cost Number of units in Ending Inventory Beginning Inventory 50 $ 3,350 Purchases: May 5 275 19,250 November 3 225 16,875 Total 550 $ 39,475 $ 0.00 $ 0.00
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