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Brief exercise 6-7 calculate ending inventory and cost of goods sold

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Posted on 
March 4th, 2022
Home Homework Help Brief exercise 6-7 calculate ending inventory and cost of goods sold

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.)

  

 

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