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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. Unit Cost
During the year, Wright Company sells 535 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Unit Cost $ 65 Date Jan. 1 May. 5 Nov. 3 Number of Units 40 285 235 Transaction Beginning inventory Purchase Purchase 68 Total Cost $ 2,600 19,380 17,155 $39,135 560 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 Sold - Weighted Average Cost Weighted Average Cost Cost of Goods Available for Sale Cost of Goods # of units Cost per Available for unit Sale 2,600 Ending Inventory - Weighted Average Cost # of units in ending Average Cost Ending inventory per unit Inventory # of units sold Average Cost per Unit Cost of Goods Sold er ending Average cost Ending Beginning Inventory Purchases: May 5 Nov.3 285 235 19,380 17,155 39,135 Total 560 $
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