Brief Exercise 6-6 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 inventory purchase transactions for the year. Number of Unit Date Jan. 1 May. 5 Nov. 3 Transaction Units Cost Total Cost Beginning inventory 40 $ 74 $ 2,960 Purchase 210 77 16,170 Purchase 120 82 370 9,840 $28,970 Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale # of units Cost per unit Cost of Goods Sold # of units Cost per unit Ending Inventory Beginning Inventory $ 0 $ 0 $ 0 Purchases: May 5 Nov. 3 Total 0 $ 0 0 0 $ 0 0 0 0 0 0 0