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I can't figure out how to get the last 2 blanks for Nov. 3 Brief Exercise 6-5 Calculate ending inventory and cost of goods sold
I can't figure out how to get the last 2 blanks for "Nov. 3"
Brief Exercise 6-5 Calculate ending inventory and cost of goods sold using FIFO (L06-3) During the year, Wright Company sells 495 remote-control airplanes for $100 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 Unita Cont 50 $ 67 275 70 225 75 550 Total Cost $ 1,350 19.250 16.975 $39,475 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 Cost of Goods Cost of Goods # of units Cost per unit # of units Cost Available for Sale Sold 50 s 67 $ 3.350 50 $ 67 $ 3.350 Ending Inventory Cost per unit Ending Inventory per unit of units 0 0 Beginning inventory Purchases May 5 Nov. 3 Total 70 75 70 75 2755 2257 $ 550 275 s $ 325 19.250 16,875 39,475 S 19,250 0 22,600 75 1,125 $ 1.125 $ 15 $ Step by Step Solution
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