accounting

During the year, Wright Company sells 455 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Number Date Transaction of Units Unit Cost Total Cost Jan. 1 Beginning inventory $79 $ 4.740 May 5 Purchase 235 19.270 Nov. 3 Purchase 185 16,095 60 82 87 480 $ 40105 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. FIFO Cont of Goods Sold Ending Inventory Cost of Goods Availablo for Sale Average Cost of of units Cost per Goods Available for Sale $ 0 Average Ending Average of units Cost per unit Cost of Goods Sold of units unit Cost per unit Inventory $ 05 Beginning Inventory Purchases May 5 Nov. 3 Total 0 $ 0 0 0 5 0 0 5 During the year, Wright Company sells 500 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Date Jan. 1 May 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Number of Units Unit Cost Total Cost 40 $68 $ 2.720 270 71 19,170 220 76 16,720 530 $ 38,610 Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO. LIFO Cost of Goods Sold Ending Inventory Average Ending Cost of Goods Available for Sale Cost of Average of units Cost per Goods Available for Sale $ 0 Average # of units Cost per unit Cost of Goods Sold #of unite Cost Inventory per unit unit 5 0$ 5 0 Beginning Inventory Purchases May Nov. 3 Total DOO 5 0 0 $