Brief Exercise 6-6 Calculate ending inventory and cost of goods sold using LIFO (LO6-3) During the year, Wright Company sells 375 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Date Transaction Jan. 1 Beginning inventory May. 5 Purchase Nov. 3 3 Purchase Number of Units 60 220 140 Unit Cost $ 76 79 84 Total Cost $ 4,560 17,380 11,760 $33,700 420 Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO. Answer is complete but not entirely correct. LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods # of Cost per Available for units unit Sale 60$ 76 $ 4,560 Cost per # of units Cost of Goods Sold unit # of units Cost per unit Ending Inventory 60 X $ 76 $ $ 4,560 0 X Beginning Inventory Purchases: May 5 Nov. 3 15,800 79 220$ 140$ 79 84 17,380 11,760 200 X $ 115 X $ 79 84 20 X $ $ 25 X $ 84 9,660 30,020 1,580 2,100 3,680 Total 420 $ 33,700 375 $ 45 $