During the year, Wright Company sells 550 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 Jan. 1 Beginning inventory 50 $ 64 $ 3,200 May. 5 Purchase 290 67 19,430 Nov. 3 Purchase 240 72 17,280 580 $ 39,910 Calculate ending inventory and cost of goods sold for the year, assuming the company uses LIFO.