Brief Exercise 6-5 Calculate ending inventory and cost of goods sold using FIFO (LO6-3) During the year, Wright Company sells 415 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Number of Unit Total Date Transaction Units Cost Cost $ 3,750 16,770 13,695 $ 75 Beginning inventory Purchase Jan. 1 50 May. 5 Nov. 3 215 78 Purchase 165 83 430 $34,215 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods Cost of Goods Sold Ending Inventory # of units Cost per unit # of units Cost per unit # of units Cost per unit Available for Sale Beginning Inventory Purchases: May 5 Nov. 3 Total

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Brief Exercise 6-5 Calculate ending inventory and cost of goods sold using FIFO (LO6-3)
During the year, Wright Company sells 415 remote-control airplanes for $100 each. The company has the following inventory purchase
transactions for the year.
Number of
Unit
Total
Date
Transaction
Units
Cost
Cost
$ 3,750
16,770
13,695
Jan. 1
Beginning inventory
50
$ 75
Purchase
215
78
Маy.
Nov. 3
Purchase
165
83
430
$34,215
Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO.
FIFO
Cost of Goods Available for Sale
Cost of Goods Sold
Ending Inventory
Cost of Goods
Cost of Goods
Ending
Inventory
# of units
Cost per unit
# of units
Cost per unit
# of units
Cost per unit
Available for Sale
Sold
Beginning Inventory
Purchases:
May 5
Nov. 3
Total
Transcribed Image Text:Brief Exercise 6-5 Calculate ending inventory and cost of goods sold using FIFO (LO6-3) During the year, Wright Company sells 415 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Number of Unit Total Date Transaction Units Cost Cost $ 3,750 16,770 13,695 Jan. 1 Beginning inventory 50 $ 75 Purchase 215 78 Маy. Nov. 3 Purchase 165 83 430 $34,215 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods Cost of Goods Ending Inventory # of units Cost per unit # of units Cost per unit # of units Cost per unit Available for Sale Sold Beginning Inventory Purchases: May 5 Nov. 3 Total
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