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During the year. Wright Company sells 565 remote-control airplanes for $110 each. 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 weighted-average cost. (Round your average cost per unit to 4 decimal places.) During the year, Wright Company sells 435 remote-control airplanes for $120 each. 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 specific identification. Actual sales by the company include its entire beginning inventory, 225 units of inventory from the May 5 purchase, and 170 units from the November 3 purchase. Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2 for $29,000 and then sells this inventory on account on March 17 for $49,000. Record transactions for (a) the purchase of inventory on account and (b) the sale of inventory on account. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2 for $29,000 and then sells this inventory on account on March 17 for $49,000. Record transactions for (a) the purchase of inventory on account and (b) the sale of inventory on account. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 3 Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2 for $29,000 and then sells this inventory on account on March 17 for $49,000. Record transactions for (a) the purchase of inventory on account and (b) the sale of inventory on account. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet

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