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During the year, Wright Company sells 425 remote-control airplanes for $110 each. The company has...

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Accounting

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During the year, Wright Company sells 425 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 Units 60 235 170 465 Unit Cost $ 79 82 87 Total Cost $ 4,740 19,270 14,790 $38,800 Calculate ending inventory and cost of goods sold for the year, assuming the company uses specific identification. Actual sales by the company include its entire beginning inventory, 215 units of inventory from the May 5 purchase, and 150 units from the November 3 purchase. Unit Cost 79 Units Unit Date Cost of Goods Activity Sold Cost Sold Jan. 1 Beginning Inventory 60 $ 79$ 4,740 May 5 Purchase 235 82 19,270 Nov. 3 Purchase 170 87 14,790 Total 465 $ 38,800 "Ked text inde no response was expected in a cell or a formula-based calculation is incorrect, no points deducted, Ending Inventory Units 40 235 170 $ 82 Ending Inve Cost 3,160 19,270 14,790 37,220 87 445 $

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