Question

During the year, Wright Company sells 475 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. What is the total cost of inventory purchases?

1) $57,000
2) $57,500
3) $58,000
4) $58,500

Answer 1

The required details to calculate the total cost of inventory purchases for Wright Company are missing. Therefore, a definitive answer cannot be given basing on the choices provided.

Step-by-step explanation:

The total cost of inventory purchases for the Wright Company is not provided among the choices given: $57,000, $57,500, $58,000, or $58,500. As such, it is not possible to give a definitive answer to this question because the necessary details regarding the number of units purchased and their unit cost are not available. To calculate the total cost of inventory purchases for the company, one would typically multiply the number of units purchased by the cost per unit. With only sale information for 475 remote-control airplanes, we are missing the purchase details necessary to make this calculation.