Brief Exercise 6-7 Calculate ending inventory and cost of goods sold using weighted-average cost (LO3)

During 2015, Wright Company sells 495 remote control airplanes for $110 each. The company has the following inventory purchase transactions for 2015.

 

  Date  TransactionNumber
of Units
Unit CostTotal Cost
  Jan. 1  Beginning inventory60       $69 $ 4,140     
  May 5  Purchase265       72 19,080     
  Nov. 3  Purchase215       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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