Gimli Axe Makers Cost of Sales For the Year Ended December 31, 2008 Beginning Inventory $1,580,000 Net Purchases* $0 Freight In $267,000 Direct labour $400,000 Cost of Goods Available for Sale $2,247,000 Ending Inventory $1,510,000 Cost of Sales Net Purchases Purchase Discounts Purchase R&A's $8,940,000 $205,000 $65,000