During the year, Wright Company sells 370 remote-control airplanes for $100 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	50	$75	$3,750
May 5	Purchase	215	78	16,770
November 3	Purchase	130	83	10,790
		395		$31,310

Calculate ending inventory and cost of goods sold for the year, assuming the company uses specific identification. Actual sales by the company include its entire beginning inventory, 200 units of inventory from the May 5 purchase, and 120 units from the November 3 purchase.