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how do you calculate ending inventory and cost of goods sold for year? During the year, Wright Company sells 475 remote-control airplanes for $120 each.
how do you calculate ending inventory and cost of goods sold for year? During the year, Wright Company sells 475 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 Number of Unit Units Cost 40 $71 255 74 205 79 500 Total Cost $ 2,840 18,870 16,195 $37,905 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. FIFO 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 of units Sold Ending Inventory Ending Cost per unit Inventory Beginning inventory Purchases May Nov 3 Total
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