Brief Exercise 6-8 (Algo) Calculate ending inventory and cost of goods sold using specific identification (LO6-3) During the year, Wright Company sells 400 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Date January 1 May 5 November 3 Date Transaction Beginning inventory Purchase Purchase January 1 May 5 November 3 Number of Unit Units 50 I 230 160 440 Calculate ending inventory and cost of goods sold for the year, assuming the company uses specific identification. Actual sales by the company include its entire beginning inventory, 220 units of inventory from the May 5 purchase, and 130 units from the November 3 purchase. Activity Beginning Inventory Purchase Purchase Total Units Sold 50 50 Cost Total Cost $78 81 86 Unit Cost $ 78 2007 $3,900 18,630 13,760 $36,290 Cost of Goods Sold 3,900 0 0 3,900 $ $ Ending Inventory Units Unit Cost 0 78 Ending Inventory Cost 0 0 69 69 e 0

Brief Exercise 6.8 (Algo) Calculate ending inventory and cost of goods sold using specific identification (LO6-3) During the year, Wright Company sells 400 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 specificidentification. Actual sales by the company include its entire beginning inventory, 220 units of inventory from the May 5 purchase, and 130 units from the November 3 purchase