# During the year, Wright Company sells 475 remote-control airplanes for \$120 each. The company has the following inventory purchasetransactions for the year.Number 0fUnitsUnitTotalTransactionDateCostCost\$ 2,84018,87016,195\$ 71Beginning inventoryPurchase40Jan. 1Маy. 5Nov. 325574205Purchase79\$37,905500Calculate ending inventory and cost of goods sold for the year, assuming the company uses weighted-average cost. (Round youraverage cost per unit to 4 decimal places.)Cost of Goods Sold - Weighted Average Ending Inventory-Weighted AverageCost of Goods Available for SaleCostCostWeighted AverageCostCost of Goods# of units Average Cost Cost of GoodsAvailable forAverageCost per#of unitsin ending Average CostinventoryEndingInventory#of unitsSoldsoldper Unitper unitSaleunitBeginning Inventory2,84040Purchases:18,870May 5255Nov.316,19520537,905500Total\$0.000.00\$.....

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Step 1

Inventory valuation can be done under different methods like FIFO,LIFO, Weighted Average.

To ascertain the weighted average cost per unit the Cost of goods available for sale are divided by the number of goods available for sale.

Step 2

Computation of Closing Inventor...

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