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During the year, Wright Company sells 475 remote-control alrplanes for $120 each. The company has the following inventory purchase transactions for the year. Number of
During the year, Wright Company sells 475 remote-control alrplanes for $120 each. The company has the following inventory purchase transactions for the year. Number of Units 40 Date Jan. 1 May. 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Unit Cont $ 71 74 79 Total Cont $ 2,840 18,870 16,195 $37,905 255 205 500 Calculate ending Inventory and cost of goods sold for the year, assuming the company uses LIFO. UFO Cost of Goods Available for sale Cost of Goods sold Ending Inventory Ending of units Cost per unit Inventory of units Cost per unit Cost of Goods Available for Sale Cost of Goods Sold # of units Cost per unit 0 $ $ 0 0 $ Beginning Inventory Purchases: 0 0 May 5 OS OS 0 0 Nov. 3 $ 0 0 0 0 0 $ 0 $ Total
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