During the year, Wright Company sells 390 remote control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Number Date Transaction of Units Unit Cost Total Cost Jan. 1 Beginning inventory 40 $77 $ 3,080 May 5 Purchase 225 80 18,000 Nov. 3 Purchase 150 85 12.750 415 $ 33,830 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. 205 units of inventory from the May 5 purchase and 145 units from the November 3 purchase Date Unit Cost Ending Inventory Units 25 Ending Inventory Cost $ 1,155 77 Jan, 1 May 5 Nov. 3 Activity Beginning inventory Purchase Purchase Total Units Sold Cost of Unit Cost Goods Sold 40 $ 77 $ 3,080 225 150 415 25