Quality Retail Group begins the year with inventory of $55,000 and ends the year with inventory of $45,000. During the year, the company has four purchases for the following amounts. Purchase on May 6 Purchase on February 17 Purchase on September 8 Purchase on December 4. $210,000 130,000 160,000 410,000 Required: Calculate cost of goods available for sale and cost of goods sold for the year. Beginning inventory Cost of goods available for sale Cost of goods sold $ 55,000