During the year, Wright Co transactions for the year. Date Transa January 1 Beginni May 5 Purchas November 3 Purchas Calculate ending inventory average cost per unit to 4 c Weighted Average Cost Beginning Inventory Purchases: Numb of uni May 5 24 November 3 18 Total 46
During the year, Wright Co transactions for the year. Date Transa January 1 Beginni May 5 Purchas November 3 Purchas Calculate ending inventory average cost per unit to 4 c Weighted Average Cost Beginning Inventory Purchases: Numb of uni May 5 24 November 3 18 Total 46
Cornerstones of Financial Accounting
4th Edition
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Chapter6: Cost Of Goods Sold And Inventory
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Problem 50E: Inventory Costing Methods Crandall Distributors uses a perpetual inventory system and has the...
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![During the year, Wright Company sells 435 remote-control airplanes for $120 each. The co
transactions for the year.
Date
January 1
May 5
Transaction
Beginning inventory
Purchase
ed
November 3
Purchase
Number of Unit
Units
Total
Cost
Cost
40
$80
$3,200
240
83
19,920
180
88
15,840
460
$38,960
any has the following inventory purchase
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
Beginning Inventory
Cost of Goods Available for Sale
Cost of Goods Sold - Weighted Average Cost
Ending Inventory - Weighted Average Cost
Number
Cost of Goods
Average Cost
Available for
of units
per unit
Sale
Number
of units
sold
Number of
Average Cost
Cost of Goods
per Unit
Sold
units in
ending
inventory
Average Cost
per unit
Ending
Inventory
40
$
3,200
Purchases:
May 5
240
19,920
November 3
180
15,840
Total
460
$
38,960
$
0.00
0.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb4663d14-dd6c-44a9-bf20-09ba85018b8f%2F017c5a06-85ea-4987-bbf8-f3834c82ee06%2F5cl7nkm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:During the year, Wright Company sells 435 remote-control airplanes for $120 each. The co
transactions for the year.
Date
January 1
May 5
Transaction
Beginning inventory
Purchase
ed
November 3
Purchase
Number of Unit
Units
Total
Cost
Cost
40
$80
$3,200
240
83
19,920
180
88
15,840
460
$38,960
any has the following inventory purchase
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
Beginning Inventory
Cost of Goods Available for Sale
Cost of Goods Sold - Weighted Average Cost
Ending Inventory - Weighted Average Cost
Number
Cost of Goods
Average Cost
Available for
of units
per unit
Sale
Number
of units
sold
Number of
Average Cost
Cost of Goods
per Unit
Sold
units in
ending
inventory
Average Cost
per unit
Ending
Inventory
40
$
3,200
Purchases:
May 5
240
19,920
November 3
180
15,840
Total
460
$
38,960
$
0.00
0.00
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