During the year, Wright Company sells 525 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year. Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 60 $ 66 $ 3,960 May. 5 Purchase 280 69 19,320 Nov. 3 Purchase 230 74 17,020 570 $ 40,300 Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO