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During the year, Wright Company sells 550 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Date Jan.
During the year, Wright Company sells 550 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Date Jan. 1 May. 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Number of Units 50 290 240 Unit Cost $ 64 67 72 Total Cost $ 3,200 19,430 17,280 $39,910 580 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 Sold - Weighted Average Cost of Goods Available for Sale Cost Average Cost of Goods # of units Average Cost Cost of Goods # of units Cost per Available for sold per Unit Sold unit Sale 50 $ 3,200 Ending Inventory - Weighted Average Cost # of units in ending Average Cost Ending inventory per unit Inventory Beginning Inventory Purchases: May 5 290 Nov.3 240 19,430 17,280 39,910 Total 580 $
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