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 Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 60 $ 82 $ 4,920 May. 5 Purchase 250 85 21,250 Nov. 3 Purchase 200 90 18,000 510 $ 44,170 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO.

During the year, Wright Company sells 470 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Number of Unit Units Date Transaction Cost Total Cost Beginning inventory $ 82 $4,920 21,250 90 18,000 60 May. 5 Purchase Nov. 3 Purchase 250 85 200 510 $44,170 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Ending Invento Cost of Goods # of units Cost per unit | Available for Sale | # of units Cost per unit # of units Cost per unit Sold 60 $ 4,920 4,920 Beginning Inventory 82$ 60 S 82 $ Purchases May 5 250 $ 230$ 85 19,550 85 21,250 Nov. 3 160 $ 180 $ 90 90 16,200 14,400 470 40,570 470 Total 40,670