During the year, Wright Company sells 500 remote-control alrplanes for $120 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 Unit Cost Total Cost 40 $68 $ 2,720 270 71 19,170 220 76 16,720 530 $ 38,610 Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO. Cost of Goods Sold Ending Inventory Average of units Cost per unit Cost of Goods Sold Average of units Cost Ending perunt Inventory LIFO Cost of Goods Available for Sale Cost of Average #of units Cost per Goods unit Available for Sale Beginning Inventory $ 0 Purchases May 5 0 Nov. 3 0 Total $ 0 5 $ 0 0 S 5 0 0