During the year, Wright Company sells 475 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Number of Units 40 255 205 Unit Cost $71...

Extracted text: During the year, Wright Company sells 475 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Number of Units 40 255 205 Unit Cost $71 74 79 Total Cost $2,840 18,870 16,195 Date Transaction Beginning inventory Purchase Jan. 1 May. 5 Nov. 3 Purchase 500 $37,905 Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIIFO. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit # of units Cost per unit #of units Cost per unit Beginning Inventory 40 2,840 25 71 1.775 Purchases: May 5 255 74 18,870 255 $4 74 18.870 Nov. 3 205 79 16,195 205 79 16,195 Total 500 37,905 485 36.840 %24 %24 %24 %24 %24 %24