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During the year, Wright Company sells 370 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Date Jan.
During the year, Wright Company sells 370 remote-control airplanes for $100 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 Unit Units Cost 50 $75 215 78 130 83 Total Cost $ 3,750 16,770 10,790 $31,310 395 Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO LIFO Cost of Goods Available for Sale Cost of Goods Sold of units Cost per unit Cost of Goods Sold Cost of Goods of units Cost per unit Ending Inventory of units Cost per unit Ending Inventory wallable for Sale Beginning inventory Purchases: May 5 Nov. 3 Total
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