Bristol Retail Group begins the year with inventory of $60,000 and ends the year with inventory of $50,000. During the year, the company has four purchases for the following amounts.

Purchase on February 17 $215,000

Purchase on May 6 135,000

Purchase on September 8 165,000

Purchase on December 4 415,000

Required: Calculate cost of goods available for sale and cost of goods sold for the year.