During the year, Wright Company sells 495 remote-control airplanes for $100 each. The company has...
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During the year, Wright Company sells 495 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Number Date Transaction of Units Unit Cost Total Cost Jan. 1 Beginning inventory 50 $ 3,350 May 5 Purchase 275 70 19.250 Nov. 3 Purchase 225 75 16,875 $67 ook 550 $ 39,475 int Tences Calculate ending Inventory and cost of goods sold for the year, assuming the company uses FIFO. Cost of Goods Sold Ending Inventory Average # of units Cost per Cost of Goods Sold Average # of units Cost Ending Inventory per unit unit FIFO Cost of Goods Available for Sale Average Cost of # of units Cost per Goods unit Available for Sale Beginning Inventory Purchases: May 5 Nov. 3 Total
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