Business, 03.05.2021 14:40, glowbaby123

During the year, Wright Company sells 520 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 50 $ 67 $ 3,350 May. 5 Purchase 275 70 19,250 Nov. 3 Purchase 225 75 16,875 550 $ 39,475 Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO.

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During the year, Wright Company sells 520 remote-control airplanes for $100 each. The company has th...