During the year, Wright Company sells 500 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Date Jan. 1 May. 5 Nov. 3 Transaction Beginning inventory Purchase Purchase 40 Number of Unit Units Cost 40 $ 68 270 71 220 76 530 Total Cost $ 2,720 19,170 16,720 $38,610 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, 250 units of inventory from the May 5 purchase, and 210 units from the November 3 purchase. Date Activity Units Sold Unit Cost Cost of Goods Sold Ending Inventory Units Unit Cost Ending Inventory Cost Jan. 1 May 5 Beginning Inventory Purchase Purchase Nov. 3 Total CA During the year, Wright Company sells 550 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Number of Units 50 Date Jan. 1 May. 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Unit Cost $ 64 67 72 Total Cost $ 3,200 19,430 17,280 $39,910 Calculate ending inventory and cost of goods sold for the year, assuming the company uses weighted average cost. (Round your average cost per unit to 4 decimal places.) Weighted Average Cost Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Average Cost of Goods # of units Cost per Available for |# of units Average Cost Cost of Goods unit Sale sold per Unit Sold 50 $ 3,200 Ending Inventory - Weighted Average Cost # of units in ending Average Cost Ending per unit Inventory inventory Beginning Inventory Purchases: May 5 Nov.3 290 240 19,430 17,280 39,910 Total 580 $ $ 0.00 $ 0.00 During the year, Wright Company sells 465 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Ini Date Jan. 1 May. 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Number of Unit Units Cost 50 $ 81 245 84 195 Total Cost $ 4,050 20,580 17,355 $ 41,985 89 490 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 # of units Cost per unit Cost of Goods Available for Sale A # of units Cost of Goods Sold ods # of units Cost per unit Ending Inventory Cost per unit Cos' $ 0$ Beginning Inventory Purchases: May 5 Nov. 3 0 $ 0 0 Tol$ool $ 00 $ 00 Total 0 $ 0 During the year, Wright Company sells 330 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 Units 60 205 110 375 Unit Cost $ 73 76 81 Total Cost $ 4,380 15,580 8,910 $28,870 Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO. * Answer is complete but not entirely correct. LIFO Ending Inventory Cost of Goods Available for Sale # of Cost per Cost of Goods units unit Available for Sale 60 $ 73 $ 4,380 # of units Cost of Goods Sold Cost per Cost of unit Goods Sold # of units Cost per unit Ending Inventory 0% $ 73 $ 0 0% Beginning Inventory Purchases: May 5 Nov. 3 Total 185 1 76 81 4,060 6,885 25,325 20 X 25 45 $ $ 76 81 85 % $ 330 1,520 2,025 3,545 76 X $ 81 $ 157 76 81 5,776 6,561 12,337 $ $ $