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Return During the year, Wright Company sells 455 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Date
Return During the year, Wright Company sells 455 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 Unit Units Cost 60 $ 79 235 52 185 87 480 Total Cost $ 4,740 19,270 16,095 540,105 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. FIFO Cost of Goods Available for Sale #of Cost of Goods units unit Available for Sale 60$ 79 4.740 Answer is not complete Cost of Goods Sold Cost per Cost of unit Goods Sold Cost per of units #of units Ending Inventory Cost per Ending unit Inventory $ 70 $ 0 Beginning Inventory Purchases May 5 Nov 3 Total 2355 185 430 82 67 19.270 16.095 40.105 235 185 Os B2 87 19.270 16.095 365 o 03 0 $ 3 0
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