Oakland Retail Group begins the year with inventory of $59,000 and ends the year with inventory of $49,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 Purchase on May 6 Purchase on September 8 Purchase on December 4 Required: Calculate cost of goods sold for the year. Beginning inventory Cost of goods available for sale $214,000 134,000 164,000 414,000 Cost of goods sold $ 59,000 $ 936,000

Oakland Retail Group begins the year with inventory of $59,000 and ends the year with inventory of $49,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 Purchase on May 6 Purchase on September 8 Purchase on December 4 $214,000134,000164,000414,000 Required: Calculate cost of goods sold for the year