During the year, Wright Company sells 470 remote-control airplanes for $110 each. The company has the following inventory purchase transactions for the year.

Calculate ending inventory and cost of goods sold for the year, assuming the company uses FIFO.

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Transaction Date Number of Units 60 250 200 510 Total Cost $ 4,920 Unit Cost $82 85 90 Beginning Inventory Purchase Purchase Jan. 1 May 5 Nov. 3 21,250 18,000 $44,170