breifs excercise 1-4

calculate ending inventory using fifo and lifo

Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO Brief Exercise 6-7 (Algo) Calculate ending inventory and cost of goods sold using weighted-average cost (LOG-3) 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.) Brief Exercise 6-5 (Algo) Calculate ending inventory and cost of goods sold using FIFO (LO6-3) During the year, Wright Company sells 510 remote-control airplanes for $100 each. The company has the following inventory purc transactions for the year. \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Cont of Goods Available for Sale } & \multicolumn{3}{|c|}{ Cost of Goods Sold - Weighted Average Cost } & \multicolumn{3}{|c|}{ Ending Inventory - Weighited Average Cost } \\ \hline lerits & AverageCostperunit & CosAv & Goodsleforle & Numberofunitssold & AverageCostperUnit & CostofGoodsSold & Numberofunitsinendinginventory & AverageCostperunit & EndingInventory \\ \hline 60 & & $ & 3,780 & & & & & & \\ \hline 295 & & & 19,470 & & 2 & & & & \\ \hline 245 & & & 17,395 & & & & & & \\ \hline 600 & & $ & 40,645 & & & 0.00 & & & 0.00 \\ \hline \end{tabular} Calculate the total amount to be reported for ending inventory in the balance sheet. Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. Brief Exercise 6-16 (Algo) Calculate ending inventory using the lower of cost and net realizable value (LO6.6) Creative Technology reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its years end inventory. Calculate the total amount to be reported for ending inventory in the balance sheet. Brlef Exercise 6-6 (Algo) Calculate ending inventory and cost of goods sold using LIFO (LO6-3) During the year, Wright Company sells 340 remote.control airplanes for $120 each. The company has the following inverntory purchase transactions for the year. Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO