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Brief Exercise 6-5 Calculate ending Inventory and cost of goods sold using FIFO (L06-3) During the year, Wright Company sells 450 remote-control airplanes for $100

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Brief Exercise 6-5 Calculate ending Inventory and cost of goods sold using FIFO (L06-3) During the year, Wright Company sells 450 remote-control airplanes for $100 each. The company has the following Inventory purchase transactions for the year. Date Jan. 1 My, 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Number of Unit Unita Coast 50 $ 78 230 81 180 86 460 Total Cost $ 3,900 18,630 15,480 $38,010 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. FIFO Cost of Goods Sold Cost of Goods Available for Sale # of units Cost per unit Cost of Goods Available for Sale Ending Inventory Cost per unit Ending Inventory # of units Cost of Goods Sold Cost per unit # of units Beginning Inventory Purchases May 5 Nov. 3 Total

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