During the year, Wright Company sells 435 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Number of Unit Date Transaction Units Cost Total Cost January 1 May 5 Beginning inventory 40 $80 $3,200 November 3 Purchase Purchase 240 83 19,920 180 460 88 15,840 $38,960 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, 225 units of Inventory from the May 5 purchase, and 170 units from the November 3 purchase. Date January 11 May 5 Activity Beginning Inventory Units Sold Unit Cost Cost of Goods Sold Ending Inventory Units Unit Cost Ending Inventory $ 0 $ Purchase 0 November 3 Purchase Total 0 $ 0 $