During the year, Wright Company sells $520$ 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

January $1$ Beginning inventory $50$ $$67$ $$3,350$

May $5$ Purchase $2757019,250$

November $3$ Purchase $2257516,875$

$550$ $$39,475$

Calculate ending inventory and cost of goods sold for the year, assuming the company uses specific identification. Actual sales by the company include its entire beginning inventory, $260$ units of inventory from the May $5$ purchase, and $210$ units from the November $3$ purchase.