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3 During the year, Wright Company sells 375 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year.
3 During the year, Wright Company sells 375 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. 078 points Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 60 $76 $4,560 May 5 Nov. 3 Purchase 220 79 17,380 Purchase 140 84 11,760 420 $ 33,700 Mc Graw Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO Answer is complete but not entirely correct. Cost of Goods Sold LIFO Cost of Goods Available for Sale Ending Inventory #of Average Cost units per unit Cost of Goods Available for Sale #of units Average Cost per unit Cost of Goods #of units Sold Average Cost per unit Ending Inventory Ranning < Prev 3 of 16 Next >
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