During the year, Wright Company sells 535 remote-control airplanes for $120 each. The company has...
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During the year, Wright Company sells 535 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Date January 1 May 5 November 3 LIFO Beginning Inventory Purchases: Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO. May 5 November 3 Transaction Beginning inventory Purchase Purchase Total Cost of Goods Available for Sale Number of units 40 Cost per unit $ 285 $ 235 $ 560 A 65 68 73 Number of Unit Units Cost $65 40 285 68 235 73 560 Cost of Goods Available for Sale $ $ 2,600 Total Cost $2,600 19,380 17,155 $39, 135 19,380 17,155 39,135 Number of units Cost of Goods Sold 0 Cost per Cost Goods unit Sold $ $ 0 0 0 0 Ending Inventory + Cost per Ending Inventory unit Number of units 0 $ 0 
During the year, Wright Company sells 535 remote-control airplanes for $120each. The company has the following inventory purchase transactions for the year. Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO
During the year, Wright Company sells 535 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Date January 1 May 5 November 3 LIFO Beginning Inventory Purchases: Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO. May 5 November 3 Transaction Beginning inventory Purchase Purchase Total Cost of Goods Available for Sale Number of units 40 Cost per unit $ 285 $ 235 $ 560 A 65 68 73 Number of Unit Units Cost $65 40 285 68 235 73 560 Cost of Goods Available for Sale $ $ 2,600 Total Cost $2,600 19,380 17,155 $39, 135 19,380 17,155 39,135 Number of units Cost of Goods Sold 0 Cost per Cost Goods unit Sold $ $ 0 0 0 0 Ending Inventory + Cost per Ending Inventory unit Number of units 0 $ 0
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