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 Jan. 1 May. 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Number of Units 50 275 225 Unit Cost Total Cost 5 67 $ 3,350 70 19,250 16.875 $39,475 75 Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO