During the year, Wright Company sells 450 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year. Date Jan. 1 May. 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Number of Units 50 230 180 460 Unit Cost $ 78 81 86 Total Cost $ 3,900 18,630 15,480 $38,010 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per # of units Cost of Goods Available for Sale # of units Cost per unit Cost of Goods Sold # of units Cost per unit Ending Inventory unit A 50 78 3,900 50 78 $ 3,900 0 Beginning Inventory Purchases: May 5 81 0 86 18,630 13,760 36,290 20 X $ 86 230 $ 81 18,630 230 $ Nov. 3 180 $ 86 15,480 160 x $ Total 460 $ 38,010 440 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. 1,720 $ 20 $ 1,720