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Can help me with this question? Thank you! During the year, Wright Company sells 475 remote-control airplanes for $120 each. The company has the following

Can help me with this question? Thank you!

During the year, Wright Company sells 475 remote-control airplanes for $120 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 40 $71 $2,840
May 5 Purchase 255 74 18,870
November 3 Purchase 205 79 16,195
500 $37,905

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, 245 units of inventory from the May 5 purchase, and 190 units from the November 3 purchase.

Date Activity Units Sold Unit Cost Cost of Goods Sold Ending Inventory Units Unit Cost Ending Inventory Cost
January 1 Beginning Inventory
May 5 Purchase
November 3 Purchase
Total

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