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help 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
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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. 1 May. 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Number of Units 50 290 240 580 Unit Total Cost Cost $64 $ 3,200 67 19,430 72 17,280 $39,910 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 Cost of Goods Available for Sale Cont of Goods Sold - Weighted Average Ending Inventory - Weighted Average Cost Average Cost of Goods of units Cost per Available for # of units Average Cost Cost of Goods # of units Average Cost Ending sold unit Salo in ending per Unit Sold per unit Inventory Inventory 50 $ 3.200 Beginning inventory Purchases May 5 Nov 3 Total 290 240 580 19,430 17.280 39,910 $ $ 0.00 30 $ 0.00 Step by Step Solution
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