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During the year, Wright Company sells 425 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Date Transaction
During the year, Wright Company sells 425 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year.
| Date | Transaction | Number of Units | Unit Cost | Total Cost | |
| Jan. 1 | Beginning inventory | 60 | $79 | $ | 4,740 |
| May 5 | Purchase | 235 | 82 | 19,270 | |
| Nov. 3 | Purchase | 170 | 87 | 14,790 | |
| 465 | $ | 38,800 | |||
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