During the year, Wright Company sells 535 remote-control airplanes 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 40 285 235 Unit Cost $ 65 68 73 Total Cost $ 2,600 19,380 17,155 $39,135 560 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, 275 units of inventory from the May 5 purchase, and 220 units from the November 3 purchase. Date Ending Inventory Units Ending Inventory Cost Unit Cost 65 Jan. 1 May 5 Activity Beginning Inventory Purchase Purchase Total Units Sold 40 285 235 560 Unit Cost Cost of Goods Sold $ 65 $ 2,600 68 19,380 731 17,155 $ 39,135 E Nov. 3 73 IIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIII mm