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During the year, Wright Company sells 535 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Date Transaction

During the year, Wright Company sells 535 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year.

Date Transaction Number of Units Unit Cost Total Cost
Jan. 1 Beginning inventory 40 $65 $ 2,600
May 5 Purchase 285 68 19,380
Nov. 3 Purchase 235 73 17,155

560 $ 39,135

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 Cost Ending Inventory Weighted Average Cost
# of units Average Cost per unit Cost of Goods Available for Sale # of units sold Average Cost per Unit Cost of Goods Sold # of units in ending inventory Average Cost per unit Ending Inventory
Beginning Inventory 40 $2,600
Purchases:
May 5 285 19,380
Nov.3 235 17,155
Total 560 $39,135

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