During the year, Wright Company sells 375 remote-control airplanes for $110 each. The company has the...

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During the year, Wright Company sells 375 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Number of Unit Date Transaction Units Cost Total Cost $4,560 17,380 11,760 Beginning inventory $76 January 1 May 5 November 3 60 Purchase 220 79 Purchase 140 84 420 $33,700 Calculate ending inventory and cost of goods sold for the year, assuming the company uses weighted-average cost. (Round your average cost per unit to 4 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Ending Inventory - Weighted Average Cost Weighted Average Cost Number of units in Number of units Average Cost per unit Cost of Goods Number Available for Sale of units sold Average Cost per Unit Cost of Goods Sold Average Cost per unit Ending Inventory ending inventory Beginning Inventory 60 2$ 4,560 Purchases: May 5 220 17,380 November 3 140 11,760 Total 420 33,700 During the year, Wright Company sells 375 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Number of Unit Date Transaction Units Cost Total Cost $4,560 17,380 11,760 Beginning inventory $76 January 1 May 5 November 3 60 Purchase 220 79 Purchase 140 84 420 $33,700 Calculate ending inventory and cost of goods sold for the year, assuming the company uses weighted-average cost. (Round your average cost per unit to 4 decimal places.) Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Ending Inventory - Weighted Average Cost Weighted Average Cost Number of units in Number of units Average Cost per unit Cost of Goods Number Available for Sale of units sold Average Cost per Unit Cost of Goods Sold Average Cost per unit Ending Inventory ending inventory Beginning Inventory 60 2$ 4,560 Purchases: May 5 220 17,380 November 3 140 11,760 Total 420 33,700

Answer rating: 100% (QA)

Solution Average cost per unitTotal costunits 33700420 802381 ... View the full answer