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 LIFO 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 LIFO. Number of units Cost of Goods Available for Sale 50 Cost per unit 230 $ 160 $ 440 78 81 86 Number of Unit Units Cost 50 $78 81 230 160 440 $ Cost of Goods Available for Sale 3,900 69 a T 18,630 13,760 36,290 86 Total Cost $3,900 18,630 13,760 $36,290 Number of units Cost 0 Cos L

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 LIFO