During the year, Wright Company sells 340 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	$74	$2,960
May 5	Purchase	210	77	16,170
November 3	Purchase	120	82	9,840
		370		$28,970

Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO.

LIFO	Cost of Goods Available for Sale			Cost of Goods Sold			Ending Inventory
	Number of units	Cost per unit	Cost of Goods Available for Sale	Number of units	Cost per unit	Cost of Goods Sold	Number of units	Cost per unit	Ending Inventory
Beginning Inventory	40	$74	$2,960	0		$0
Purchases:
May 5	210	$77	16,170	20		0
November 3	120	$82	9,840	10		0
Total	370		$28,970	30		$0	0		$0