Kirtland Corporation uses a periodic inventory system. At the end of the annual accounting period, December 31, 2015, the accounting records for the most popular item in inventory showed the following:

	Transactions	Units	Unit Cost
Beginning inventory, January 1, 2015		430	$6.00
Transactions during 2015:
a.	Purchase, January 30	330	3.70
b.	Purchase, May 1	490	7.00
c.	Sale ($8 each)	(190)
d.	Sale ($8 each)	(730)

Required:

Compute the amount of ending inventory and cost of goods sold at December 31, 2015 under Specific identification of the inventory costing methods. Specific identification: assuming that the first sale was selected two-fifths from the beginning inventory and three-fifths from the purchase of January 30, 2015. Assume that the second sale was selected from the remainder of the beginning inventory, with the balance from the purchase of May 1, 2015. (Do not round intermediate calculations. Round "Average Cost and Specific Identification" to 2 decimal places.)