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  3. 22. during the year, wright company sells 320

22. During the year, Wright Company sells 320 remote-control airplanes for...

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Accounting

22.
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During the year, Wright Company sells 320 remote-control airplanes for $100 each. The company has the following Inventory purchase transactions for the year. Date Transaction Jan. 1 Beginning inventory May. 5 Purchase Nov. 3 Purchase Number of Unito 50 200 100 350 Unit Cost $ 72 75 80 Total Cost $ 3,600 15,000 8,000 $26,600 Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO. UFO Cost of Goods Available for Sale of units Cost per unit Cost of Goods Available for Sale $ 0 Cost of Goods Sold # of units Cost per unit Cost of Goods Sold 0 s 0 Ending Inventory # of units Cost per unit Ending Inventory $ Beginning Inventory Purchases May 5 Nov. 3 Total 0 $ $ 0 OO 0 0 0 0 $ 0 $ 0 0

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