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During the year, Wright Company sells 565 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Date January
During the year, Wright Company sells 565 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Date January 1 May 5 November 3 Weighted Average Cost Beginning Inventory Purchases: May 5 November 3 Total Transaction Beginning inventory Purchase Purchase Calculate ending inventory and cost of goods sold for the year, assuming the company uses weighted-average cost. Note: Round your average cost per unit to 4 decimal places. Number of units Cost of Goods Available for Sale 60 Number of Unit Units Cost 60 $ 63 295 66 245 71 295 245 600 Average Cost per unit 600 Cost of Goods Available for Sale $ $ 3,780 Total Cost $ 3,780 19,470 17,395 19,470 17,395 40,645 $ 40,645 Cost of Goods Sold - Weighted Average Cost Number of units sold Average Cost per Unit Cost of Goods Sold Ending Inventory - Weighted Average Cost Number of units in ending inventory Average Cost per unit Ending Inventory
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