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During the year. Wright Company sells 520 remote-control airplaries for $100 each. The company has the following inventory purchase transactions for the year. Jan. 1

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During the year. Wright Company sells 520 remote-control airplaries for $100 each. The company has the following inventory purchase transactions for the year. Jan. 1 Mays Nov. Transaction Beginning inventory Purchase Purchase Number of Uits 50 275 225 Unit Cost 5.67 20 75 Total Cost $ 3,50 19,250 15,375 $39,475 550 Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO. LIFO Cost of Goods Available for Sale of units Cost per unit Cost of Goods Available for Sale $ Cost of Goods Sold of units Cost per unit Cost of Goods Sold $ 05 0 Ending Inventory of units Cost per unit Ending Inventory Beginning inventory Purchases May 5 Nov 3 0 0 $ $ 0 0 Total $ 5 0 $ 0

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