Question: I just need all the boxes filled in that need to be filled and was wondering if you could explain to me how you got
I just need all the boxes filled in that need to be filled and was wondering if you could explain to me how you got the numbers.
Thank you.
Brief Exercise 6-5 Calculate ending inventory and cost of goods sold using FIFO (LO6-3) During the year, Wright Company sells 370 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year Number Date Jan. 1 May 5 Nov. 3 Transaction Beginning inventory Purchase Purchase of Units UCost Total Cost 2,960 16,170 13,120 $74 40 210 160 82 410 $ 32,250 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO FO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Available for Sale Averag Goods Average Cost of Average Ending # of units Cost per | # of units cost per Goods Sold |#0f units cost. Inven per unit unit unit 40 $ 74 2,960 40 S74$2,960 Beginning Inventory Purchases: 210$ 7716,170 May 5 Nov. 3 210$ 77 160 $ 82 410 16,170 13,120 $ 32,250 $ 82 0 Total
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