During the year, Wright Company sells $340$ remote$-$control airplanes for $$120$ 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 $40$ $ $74$ $ $2,960$

May. $5$ Purchase $2107716,170$

Nov. $3$ Purchase $120829,840$

$370$ $ $28,970$

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, $190$ units of inventory from the May $5$ purchase, and $110$ units from the November $3$ purchase.