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Name: During the year, Wright Company sells 470 remote-control airplanes for
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Description: 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 FIF

Business

Accounting

Date Transaction Number of Units Unit Cost Total Cost $ 4,920 21,250 Jan. 1 Beginning inventory 60 $82 May 5 Purchase 250 85 Nov. 3 Purchase 200 90 18,000 $44,170 510

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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