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 $ .....
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter13: Accounting For Merchandise Inventory
Section: Chapter Questions
Problem 1MP: Hurst Companys beginning inventory and purchases during the fiscal year ended December 31, 20-2,...
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