During the year, Wright Company sells 565 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		$	63		$	3,780
May. 5	Purchase		295			66			19,470
Nov. 3	Purchase		245			71			17,395
			600					$	40,645

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, 285 units of inventory from the May 5 purchase, and 220 units from the November 3 purchase.