Kevin owns a retail store, and during the current year he purchased $610,000 worth of inventory. Kevin’s beginning inventory was $67,000, and his ending inventory is $77,200. During the year, Kevin withdrew $1,780 in inventory for his personal use. Use Part III of Schedule C below to calculate Kevin’s cost of goods sold for the year. 

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Cost of Goods Sold (see instructions) Part III Method(s) used to value closing inventory: 33 a O Cost c O Other (attach explanation) O Lower of cost or market b 34 Was there any change in determining quantitles, costs, or valuations between opening and closing inventory? If "Yes," attach explanation. Yes No DRAFT-AS GË July 12, 2018 DO NOT FILE Inventory at beginning of year. Iif dfferent from last year's closing inventory. attach explan 35 35 Purchases less cost of items withdrawn for personal use 36 36 37 Cost of labor. Do not include any amounts paid to yourself 37 Materials and supplies 38 39 Other costs. 39 Add lines 35 through 39 40 40 Inventory at end of year 41 41 Cost of goods sold. Subtract line 41 from line 40. Enter the result here and on line 4 42