During the year, Wright Company sells 390 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	$77	$3,080
May 5	Purchase	225	80	18,000
November 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