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During the year, Wright Company sells 450 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. 5e Date
During the year, Wright Company sells 450 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. 5e Date Jan. 1 May. 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Number of Units Unit Cost Total Cost $ 78 $ 3,900 230 81 18,630 180 86 15,480 $38,010 469 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. FIFO Ending Inventory Cost of Goods Available for Sale # of units Cost per unit Cost of Goods Available for Sale Cost of Goods Sold Cost per unit Cost of Goods # of units # of units Cost per unit Ending Inventory Beginning Inventory Purchases: May 5 Nov. 3 Total
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