During the year Wright Company sells 490 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Number of Unit Date January 11 May 5 Transaction. Units: Cost Total Cost Beginning inventory Purchase 40 $68 $2,720 270 71 19,170 November 3 Purchase 220 76 16,720 530 $38,610 Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO Cost of Goods Available for Sale Cost of Goods Sold FIFO Number Cost per Cost of Goods of units unit Available for Sale Number of units Cost per unit Cost of Goods Sold Number of units Ending Inventory Cost per Ending unit Inventory Beginning Inventory 40 $ 68 $ 2,720 $ 0 Purchases May 5 270 71 19.170 0 November 3 220 76 16,720 0 Total 530 $ 38,610 0 S 0 $ 0