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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
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 Number of Unit Total Transaction Units Cost Cost Beginning inventory 60 $63 $3,780 Purchase Purchase 295 66 19,470 245 71 17,395 600 $40,645 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 Available for Sale Cost of Goods Sold-Weighted Average Cost Weighted Average Cost Number of units Average Cost per unit Cost of Goods Available for Number of units Average Cost per Unit Cost of Goods Sold Sale sold Average Cost per unit Ending Instory-Weighted Average Cost Number of units in ending Inventory Ending Inventory Beginning Inventory 60 $ 3,780 Purchases: May 5 295 19,470 November 3 245 17,395 Total 600 $ 66.6666 $ 40,645 $ 13.5483 $ 0.00 35 $ 66.6666 $ 2,333.33
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