Dash Department Store features womens fashions. At the beginning of the year, the store had $514,000 in

Question:

Dash Department Store features women’s fashions. At the beginning of the year, the store had $514,000 in merchandise. Total purchases for the year were $463,000.

Required
A. Calculate cost of goods sold for the year, assuming the year-end inventory was $488,000.
B. What was the total amount of merchandise available for sale during the year?