Question: Hey, could you show me how to get the numbers to put in the blue boxes? Thank you!! Brief Exercise 6-6 Calculate ending inventory and
Hey, could you show me how to get the numbers to put in the blue boxes? Thank you!!
Brief Exercise 6-6 Calculate ending inventory and cost of goods sold using LIFO (LO6-3) During the year, Wright Company sells 525 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year Number Date Jan. 1Beginning inventory May 5 Nov. 3 of Units Cost Total Cost $66 $ 3,960 19,320 17,020 Transaction Purchase Purchase 60 280 230 69 74 570 $ 40,300 Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of # of units Cost per | Available for Sale Average | Goods | # of units Cost per Average Cost of Goods Sold Average Ending | # of units Cost per unit Inventory unit unit Beginning Inventory 0 Purchases May 5 Nov. 3 0 Total 0
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