Solution-Calculate ending inventory and cost of goods sold

Calculate ending inventory and cost of goods sold for year

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Question - During the year, Wright Company sells 400 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year.

Date	Transaction	Number of Units	Unit Cost	Total Cost
Jan. 1	Beginning inventory	50	$78	$3,900
May 5	Purchase	230	81	18,630
Nov. 3	Purchase	160	86	13,760
		440		$36,290

Required - Calculate ending inventory and cost of goods sold for the year, assuming the company uses weighted-average cost.

Reference no: EM133062793

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Calculate ending inventory and cost of goods sold for year

Reference no: EM133062793

Reference no: EM133062793

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