Brief Exercise 6-7 Calculate ending inventory and cost of goods sold using weighted-average cost (LO3)
shahimermaid (Not rated)
(Not rated)
During 2015, Wright Company sells 495 remote control airplanes for $110 each. The company has the following inventory purchase transactions for 2015.
| Date | Transaction | Number of Units | Unit Cost | Total Cost | |
| Jan. 1 | Beginning inventory | 60 | $69 | $ | 4,140 |
| May 5 | Purchase | 265 | 72 | 19,080 | |
| Nov. 3 | Purchase | 215 | 77 | 16,555 | |
| 540 | $ | 39,775 | |||
Calculate ending inventory and cost of goods sold for 2015, assuming the company uses weighted-average cost. (Round your average cost per unit to 4 decimal places.) | |
10 years ago
100% correct solution
NOT RATED
Purchase the answer to view it
6-7.pdf
