Wright Company had the following information for the year ending December 31:
Units
Unit Cost
Beginning inventory
240
$
45
Purchase:
April 6
290
43
Sale:
May 4
500
Purchase:
July 19
470
41
Sale:
September 9
300
Purchase:
October 10
200
37
Wright uses the perpetual inventory system and the FIFO method.
Required:
Using FIFO
(a)
Compute the cost of ending inventory.
(b)
Compute the cost of goods sold for the year.

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