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During the year. Wright Company sells 525 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Unit Cost
During the year. Wright Company sells 525 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Unit Cost $ 66 Date Jan. 1 May. 5 Nov. 3 Number of Units 60 280 230 Transaction Beginning inventory Purchase Purchase 69 Total Cost $ 3,960 19,320 17,020 $40,300 74 570 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 Cost of Goods Sold - Weighted Average Ending Inventory - Weighted Average Cost Cost Average Cost of Goods # of units Cost per # of units Average # of units Available for Cost of Goods Average Cost Ending sold in ending Sale Cost per Unit Sold inventory per unit Inventory 60 $ 3,960 unit Beginning Inventory Purchases: May 5 Nov. 3 280 230 19,320 17,020 40,300 Total 570 $ 525 $ 209.0000 $ 109,725.00 45 $ 66.0000 $ 2,970.00
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