During the year, Wright Company sells 475 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Number 0f Units Unit Total Transaction Date Cost Cost $ 2,840 18,870 16,195 $ 71 Beginning inventory Purchase 40 Jan. 1 Маy. 5 Nov. 3 255 74 205 Purchase 79 $37,905 500 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 Sold - Weighted Average Ending Inventory-Weighted Average Cost of Goods Available for Sale Cost Cost Weighted Average Cost Cost of Goods# of units Average Cost Cost of Goods Available for Average Cost per #of units in ending Average Cost inventory Ending Inventory #of units Sold sold per Unit per unit Sale unit Beginning Inventory 2,840 40 Purchases: 18,870 May 5 255 Nov.3 16,195 205 37,905 500 Total $ 0.00 0.00 $ .....
During the year, Wright Company sells 475 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Number 0f Units Unit Total Transaction Date Cost Cost $ 2,840 18,870 16,195 $ 71 Beginning inventory Purchase 40 Jan. 1 Маy. 5 Nov. 3 255 74 205 Purchase 79 $37,905 500 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 Sold - Weighted Average Ending Inventory-Weighted Average Cost of Goods Available for Sale Cost Cost Weighted Average Cost Cost of Goods# of units Average Cost Cost of Goods Available for Average Cost per #of units in ending Average Cost inventory Ending Inventory #of units Sold sold per Unit per unit Sale unit Beginning Inventory 2,840 40 Purchases: 18,870 May 5 255 Nov.3 16,195 205 37,905 500 Total $ 0.00 0.00 $ .....
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:During the year, Wright Company sells 475 remote-control airplanes for $120 each. The company has the following inventory purchase
transactions for the year.
Number 0f
Units
Unit
Total
Transaction
Date
Cost
Cost
$ 2,840
18,870
16,195
$ 71
Beginning inventory
Purchase
40
Jan. 1
Маy. 5
Nov. 3
255
74
205
Purchase
79
$37,905
500
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 Sold - Weighted Average Ending Inventory-Weighted Average
Cost of Goods Available for Sale
Cost
Cost
Weighted Average
Cost
Cost of Goods# of units Average Cost Cost of Goods
Available for
Average
Cost per
#of units
in ending Average Cost
inventory
Ending
Inventory
#of units
Sold
sold
per Unit
per unit
Sale
unit
Beginning Inventory
2,840
40
Purchases:
18,870
May 5
255
Nov.3
16,195
205
37,905
500
Total
$
0.00
0.00
$
.....
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