During the year, Wright Company sells 470 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Date Jan. 1 May. 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Number of Unit Units Cost 60 $ 82 85 90 Total Coat $4,920 21.250 18.000 $44,170 Calculate ending inventory and cost of goods sold for the year, assuming the company uses specific identification. Actual sales by the company include its entire beginning inventory 230 units of inventory from the May 5 purchase, and 180 units from the November 3 purchase. Answer is not complete. Date Activity Cost of Goods Ending Inventory Units Unit Cost Ending Inventory Cost Sold 4.920 Units Unit Sold Cost 60 $ 1653 200 & Jan 1 May 5 Nov. 3 6,724 Beginning Inventory Purchase Purchase 14.025 18.000 Total 36.945 6,724 During the year, Wright Company sells 470 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Date Jan. 1 May. 5 Nov. 3 Transaction Teginning inventory Purchase Purchase Number of Unit Units Cost 60 $ 82 250 85 200 Total Cont $ 4,920 21.250 18.000 $44. 170 90 Calculate ending Inventory and cost of goods sold for the year, assuming the company uses LIFO. LIFO Cost of Goods Available for Sale Cost of Goods of units Cost per unit Available for Sale 60 $ 82 $ 14,920 Cost of Goods Sold Ending Inventory Cost of Goods Ending of units Cost per unit of units Cost per unit Inventory Sold Porn ost porn $ 82 $ 40 $ Beginning Inventory Purchases: May 5 Nov 3 Total $ 85 ol A 250 S 250 2001 s 510 2 21.250 18.000 44,170 8 5 90 $ 1,250 of 21.250 0 40 250 $ $ 3.280