Company ABC manufactures electronic devices. At the beginning of the year, the company had raw materials inventory worth $50,000. During the year, they purchased raw materials worth $200,000 and incurred direct labor costs of $150,000. Manufacturing overhead expenses amounted to $100,000. The company produced 10,000 units of finished goods during the year, and 8,000 units were sold. Calculate the cost of goods sold and ending inventory using the absorption costing method.