During the year, Wright Company sells 420 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 Jan. 1 Beginning inventory 40 $77 $ 3,080 May 5 Purchase 225 80 18,000 Nov. 3 Purchase 175 85 14,875 440 $ 35,955 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. rev: 08_17_2016_QC_CS-57416