During the year, Wright Company sells 475 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year.   Date Transaction Number of Units Unit Cost Total Cost January 1 Beginning inventory 40 $71 $2,840 May 5 Purchase 255 74 18,870 November 3 Purchase 205 79 16,195     500   $37,905   Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO.

The following units of an item were available for sale during the year: Beginning inventory 8, 400 units at $160 Sale 4, 800 units at $300 First purchase 15,100 units at $165 Sale 13, 200 units at $ 300 Second purchase 15, 600 units at $174 Sale 13,700 units at $300 The firm uses the perpetual inventory system, and there are 7,400 units of the item on hand at the end of the year. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet What is the total cost of the ending inventory according to FIFO? Round your answer to the nearest dollar. $ fill in the blank 2 What is the total cost of the ending inventory according to LIFO? Round your answer to the nearest dollar. $ fill in the blank 3 Feedback Area

Please read and asnwer question using table provided.

A company has beginning inventory for the year of $14,500. During the year, the company purchases inventory for $190,000 and ends the year with $21,000 of inventory. The company will report cost of goods sold equal to:   Multiple Choice   $211,000.   $190,000.   $196,500.   $183,500.

Beech Soda, Incorporated uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: Beginning inventory (January 1) Purchase (January 11) Purchase (January 20) Total Quantity 23 26 37 86 Unit Cost $ 25 $31 $ 33 Total Cost $ 575 806 1,221 $ 2,602 On January 14, Beech Soda, Incorporated sold 39 units of this product. The other 47 units remained in inventory at January 31. Assuming that Beech Soda uses the LIFO cost flow assumption, the cost of goods sold to be recorded at January 14 is:

During the year, Wright Company sells 330 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. DateTransactionNumber of UnitsUnit CostTotal CostJan. 1Beginning inventory 60 $73 $4,380  May. 5Purchase 205  76  15,580  Nov. 3Purchase 110  81  8,910     375    $28,870    Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO.

During the year, Wright Company sells 535 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year.   Date Transaction Number of Units Unit Cost Total Cost January 1 Beginning inventory 40 $65 $2,600 May 5 Purchase 285 68 19,380 November 3 Purchase 235 73 17,155     560   $39,135   Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO.

Russell Retail Group begins the year with inventory of $64,000 and ends the year with inventory of $54,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 $219,000 Purchase on May 6 139,000 Purchase on September 8 169,000 Purchase on December 4 419,000 Required: Calculate cost of goods sold for the year. Beginning inventory Cost of goods available for sale Cost of goods sold

During the year, TRC Corporation has the following inventory transactions. Date Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Weighted Average Cost Total Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Transaction Sales revenue Gross profit For the entire year, the company sells 450 units of inventory for $70 each. 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 2 decimal places and all other answers to the nearest whole number.) Number of Units 60 140 210 120 530 Cost of Goods Available for Sale # of units 60 140 210 120 530 Average Cost per unit Cost of Goods Available for Sale $ $ Unit Cost 3,120 $ 52 54 57 58 7,560 11,970 6.960 29,610 Total Cost $ 3,120 7,560 11,970 6,960 $29,610 Cost of Goods Sold - Weighted Average Cost of units Sold Average Cost of Cost per Unit Goods Sold Ending Inventory - Weighted Average Cost # of units in Ending Inventory…

Russell Retail Group begins the year with inventory of $55000 and ends the year with inventory of $45,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 Purchase on May 6 Purchase on September 8 Purchase on December 4 $210,000 130,000 160,000 410,000 Required: Calculate cost of goods sold for the year.