During the year, Wright Company sells 480 remote-control airplanes for $100 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	50	$70	$	3,500
May 5	Purchase	260	73		18,980
Nov. 3	Purchase	210	78		16,380
		520		$	38,860

Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO.

LIFO	Cost of Goods Available for Sale			Cost of Goods Sold			Ending Inventory
	# of units	Average Cost per unit	Cost of Goods Available for Sale	# of units	Average Cost per unit	Cost of Goods Sold	# of units	Average Cost per unit	Ending Inventory
Beginning Inventory			$0		$0	$0
Purchases:
May 5			0		$0	0
Nov. 3			0		$0	0
Total	0		$0