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During the year. Wright Company sells 570 remote control alrplanes for $120 each. The company has the following Inventory purchase transactions for the year Date
During the year. Wright Company sells 570 remote control alrplanes for $120 each. The company has the following Inventory purchase transactions for the year Date Jan. 4 May. 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Number of Units 40 388 258 59e Unit Cost $ 62 65 70 Total Cost $ 2,490 19,500 17,500 $39,480 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 Ending Inventory - Weighted Average Cost of Goods Available for Sale Cost Cost Average Cost of Goods # of units Average Cost Cost of Goods Available for # of units Cost per Ending in ending sold per Unit Sold Sale unit inventory per unit Inventory 40 S 2.480 # of units Average Cost Beginning Inventory Purchases May 5 Nov 3 Total 300 19,500 250 590 17.500 39.480 S
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