× y D Chapter 6A H tpx 201 ONLINE tion. Brief Exerclse 6-5 Calculate ending Inve

Question

× y D Chapter 6A H tpx 201 ONLINE tion. Brief Exerclse 6-5 Calculate ending Inventory and cost of goods sold using FIFO (LO6-3) ol airplanes for $110 each. The company has the following inventory purchase transactions for the year During the year, Wright Company sells 455 of Cost Total Cost Jan. 1 May 5Purchase Nov. 3 Purchase $79 $ 4,740 19,270 16,095 s 40,105 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Average Cost of Goods Sold Average Ending | # of units : Cost per |# of units: Cost Inventory unit for Sale unit

Explanation / Answer

FIFO cost of goods avaialble for sale cost of goods sold Ending inventory units per unit total units per unit total units per unit total Beg inv 60 79 4,740 60 79 4,740 purchases 5-May 235 82 19270 235 82 19270 3-Nov 185 87 16095 160 87 13920 25 87 2175 total 480 40,105 455 37,930 25 2175

Related Questions

Navigate

• Browse (All)
• Browse #
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.