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During the year, Wright Company sets 435 remote control airplanes for $120 each. The company has the following inventory purchase Check my work transactions for
During the year, Wright Company sets 435 remote control airplanes for $120 each. The company has the following inventory purchase Check my work transactions for the year Date Transaction Jan. 1 Beginning inventory May. 5 Purchase Nov. 3 Purchase Number of Unit Total Cost Cost 380 52,200 240 33 19.920 189 88 35.840 40 $38,960 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 Available for Sale Cost of Goods Sold-Weighted Average Ending Inventory - Weighted Average Cou Cost Average cost of Goods of units Average Cost Cost of Goods of units of units Cost per Available for Average Cost Ending Sale sold in ending per Unit Sold Inventory per unit Inventory 40 $ 3.200 Beginning inventory Purchases May 5 Now Total 240 180 480 19.920 15.840 38.50 $ $ 0.00 3 0.00
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