During the year, Wright Company sells 475 remote-control airplanes for $120 each. The company has the following inventory urchase transactions for the year. Date Jan. 1 May. 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Number of Unit Unita Cost 40 $ 71 255 74 205 79 500 Total Cost $ 2,840 18,870 16.195 $ 37,905 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO. Answer is complete but not entirely correct. FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods # of Cost per units unit Available for Sale 40 5 71s 2,840 of units Cost per unit Cost of Goods Sold # of units Cost per unit Ending Inventory 15 X $ 71 $ 1,065 25 $ 71 $ 1,775 Beginning Inventory Purchases May 5 Nov. 3 Total 255$ 205$ 500 74 79 18.870 16,195 37,905 255$ 205 * $ 475 74 79 18,870 16,195 36,130 0 0 25 S 1,775 $