Brief Exercise 6-5 (Algo) Calculate ending inventory and cost of goods sold using FIFO (LO6-3) During the year, Wright Company sells 465 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 January 1 Beginning inventory 50 $81 $4,050 May 5 Purchase 245 84 20,580 November 3 Purchase 195 89 17,355 490 $41,985 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. FIFO Beginning Inventory Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Number of units 50 Cost per unit Cost of Goods Available for Sale Number of units Cost per unit Cost of

Brief Exercise 6-5 (Algo) Calculate ending inventory and cost of goods sold using FIFO (LO6-3 During the year, Wright Company sells 465 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO