Compute Cost of Goods Sold for Ralph's Sporting Goods, a merchandising company, given the following information:

Advertising expense. . . . . . . . . . .	$25,000
Purchases of merchandise. . . . .	400,000
Salaries expense. . . . . . . . . . . . . .	80,000
Freight-in and import duties. . . . .	20,000
Lease of store. . . . . . . . . . . . . . . . .	75,000
Beginning inventory. . . . . . . . . . .	35,000
Ending inventory. . . . . . . . . . . . . .	38,000