During the year, Wright Company sells 370 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Date January 1 May 5 November 3 FIFO Beginning Inventory Purchases: May 5 November 3 Transaction Beginning inventory Purchase Purchase Total Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. Number of units Cost of Goods Available for Sale 40 210 160 410 Cost per unit $ 74 Number of Unit Units Cost 40 $ 74 210 77 160 82 77 82 410 $ Cost of Goods Available for Sale $ 2,960 + Total Cost $ 2,960 16,170 13,120 16,170 13,120 32,250 $ 32,250 Number of units Cost of Goods Sold Cost per unit Cost of Goods Sold Ending Inventory Cost per unit Number of units Ending Inventory

During the year, Wright Company selis 370 remote-control airplanes for $120 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 FIFO