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

During the year, Wright Company sells 470 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO