During the year, Wright Company sells 460 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Date January 1 May 5 November 3 FIFO Beginning Inventory Purchases: May 5 November 3 Transaction Beginning inventory Purchase Purchase Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. Total Cost of Goods Available for Sale Number of units 40 240 190 470 Cost per unit $ 80 Number of Unit Units 40 240 190 470 83 88 Cost of Goods Available for Sale $ 3,200 $ Cost Total Cost $80 83 88 19,920 16,720 39,840 $3,200 19,920 16,720 $39,840 Number of units Cost of Goods Sold Cost per unit Cost of Goods Sold Ending Inventory Cost per unit Number of units Ending Inventory

During the year, Wright Company sells 460 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Calculate ending irventory and cost of goods sold for the year, assuming the company uses FIFO