During the year, Wright Company sells 485 remote-control airplanes for $110 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 80 265 215 540 Unit Cost Total Cost $ 69 S 4.140 72 19.080 10.555 $39.775 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO