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During the year, Wright Company sells 380 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Number of
During the year, Wright Company sells 380 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Number of Units Date Jan. 1 May. 5 Nov. 3 Transaction Beginning inventory Purchase Purchase 50 Unit Cost $ 72 75 80 200 150 400 Total Cost $ 3,600 15,000 12,000 $30,600 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. FIFO Cost of Goods Available for Sale Ending Inventory # of units Cost per unit Cost of Goods Available for Sale Cost of Goods Sold # of units Cost per unit cost of Goods # of units * | $ 0 $ 0 Cost per unit Ending Inventory 0 Beginning Inventory Purchases: May 5 Nov. 3 | $ 0 0 Total
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