Russell Retail Group begins the year with inventory of $ 55,000 and ends the year with inventory of $ 45,000. During the year, the company has four purchases for the following amounts.
Purchase on February 17 ......... $ 210,000
Purchase on May 6 ............ 130,000
Purchase on September 8 ......... 160,000
Purchase on December 4 .......... 410,000

Required:
Calculate cost of goods sold for the year.