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Brief Exercise 6-4 Calculate amounts related to the multiple-step income statement (LO6-2) For each company calculate the missing amount Company Sales Cost of Goods Gross Operating Revenge Sold Profit Expenses Lennon $ 15.000 $ 0.000 $ 2.900 Harrison 18.000 0.800 4.800 McCartney 10.600 7800 Start 13.000 4.800 8.800 Net Income 3,900 1800 900 200 5.900 Brief Exercise 6-5 Calculate ending inventory and cost of goods sold using FIFO (LO6-3) During the year. Wright Company sells 500 remote-control sirplanes for $110 each. The company has the following inventory purchase transactions for the year Number of Unit Date Transaction Units Cost Total Cost Jan. Beginning Sventory 60 $66 $ 3.960 May. 5 Purchase 210 6919,320 Purchase 230 17,020 570 540,30 74 Date Transaction Jan. 1 Beginning inventory May. 5 Purchase Nov.) Purchase Units se 200 Cost Total Cont $ 56 $3,10 19,320 74 17,20 $40,10 590 Sold 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 Ending Inventory of units Cost per unit Cost of Goods Available for Sale of units Cost per unit Cost of Goods of units Cost per unit Ending Inventory Beginning overtory $ $ Purchase Mays Now 5 o $ 0 0 $ 0 0 0 0 0

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