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 Jan. 1 May. 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Number of Unit Units Cost 60 $63 295 66 245 600 Total Cost $ 3,780 19.479 17,395 $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. Date Activity Units Sold Unit Cost Cost of Goods Sold Ending Inventory Units Unit Cost Ending Inventory Cost Jan 1 May 5 Nov. 3 Beginning Inventory Purchase Purchase