During the year, Wright Company sells 495 remote-control airplanes for $100 each. The company has the following inventory purchase transactions for the year.

Number of Units Date Jan. 1 May 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Unit Cost $67 70 Total Cost $ 3,350 19,250 16,875 275 225 75 550 $ 39,475 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 Average Ending Average # of units Cost per unit Cost of Goods Available for Sale Average # of units Cost per unit Cost of Goods Sold # of units Cost per unit Inventory Beginning Inventory Purchases: May 5 Nov. 3 Total