Brief Exercise 6-5 Calculate ending inventory and cost of goods sold using FIFO (LO6-3) During the year, Wright Company sells 470 remote-control airplanes for $110 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 60 250 200 Unit Cost $ 82 85 90 Total Cost $ 4,920 21,250 18,000 $44,170 510 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Ending Cost per unit Inventory # of units Cost per unit Cost of Goods Available for Sale # of units Cost per unit Cost of Goods # of units Sold $ 0 $ 0 $ 0 Beginning Inventory Purchases: May 5 0 $ 0 0 Nov. 3 0 $ 0 olo Total 0 $ 0 0 $ 0 $ 0