Exercise 6-1A Calculate cost of goods sold (LO6-2) Russell Retail Group begins the year with Inventory of $58,000 and ends the year with inventory of $48,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 $213,000 Purchase on May 6 133,000 Purchase on September B 163,000 Purchase on December 4 413,000 Required: Calculate cost of goods sold for the year. Beginning inventory Cost of goods available for sale i Cost of goods sold