I do not know how to handle this problem. I was wondering if someone can solve this to serve as an example, by answering what each value should be (1a, 1b, 1c, etc). Thanks!

Question: During the year, Wright Company sells 470 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 FIFO.

Number of Units Unit cost Total cost Date Transaction Jan. 1 Beginning inventory 60 $82 4.920 May 5 Purchase 250 85 21.250 200 Nov. 3 Purchase 90 8.000 510 44,170 FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory of units siunit s of units $/unit s of units $/unit S 1a 1b Beginning 3a 0 2a Inventory Purchases o 2b 3b May 5 2c Nov. 3 Total