Question

During the year, Wright Company sells 500 remote control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units Unit Cost Total Cost 40 $68 $ 2,720 270 71 19,170 220 16,720 76 530 $ 38,610 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 Average Cost of Goods # of units Cost per Available for # of units sold Average Cost per Cost of Goods Sold # of units in ending Average Cost per Ending Inventory < Prey 38 of 50 !! Next > to search o

Answer 1

Req 1		Cost of Goods available for sale	Cost of Goods Sold-Average Cost	Ending Inventory-Average Cost
	Average Cost	# of Units	Unit Cost	Cost of Goods available for sale	# of Units	Average Cost per unit	Cost of Goods Sold	# of Units in ending inventory	Average Cost per unit	Ending Inventory
	Beginning Inventory	40	68	2720
	Purchases:
	MAY 5	270	71	19170
	Nov 3	220	76	16720
	Total	530		38610	500	72.8491	36425	30	72.8491	2,185