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During the year. Wright Company sells 480 remote control airplanes for $100 each. The company...

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Accounting

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During the year. Wright Company sells 480 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 Units Unit Cost Total Cost 50 $70 $ 3,500 260 73 18,980 210 78 16,380 520 $ 38,860 1 COS Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO. LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Average Goods # of units Cost per Available unit for Sale Average Cost of of units Cost per Goods unit Sold # of units Average Cost Ending Inventory per unit Beginning Inventory Purchases: May 5 Nav. 3 Total

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