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 February 17 $210,000

Purchase on May 6 130,000

Purchase on September 8 160,000

Purchase on December 4 410,000

Required:

Calculate cost of goods available for sale and cost of goods sold for the year.