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During the year, Wright Company sells 415 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Date Jan.

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During the year, Wright Company sells 415 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Date Jan. 1 Mays Nov. Transaction Beginning inventory Purchase Purchase Number of Units 50 215 165 430 Unit Cost 5.75 78 89 Total cost $ 3.750 16,770 13,695 $34,215 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. FIFO Cost of Goods Available for Sale Cont of Goods Sold of units Cost per unit Cost of Goods Cost of Goods Available for Sale of units Cost per unit Sold $ 0 S 05 0 Ending Inventory Ending #of units Cost per unit Inventory Beginning Inventory Purchases May 5 Nov 3 Total 0 0 0 $ 5 0 $ 0 0 0 0 0 S $ 0

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