The income statement of Sandhill Company is shown below.

SANDHILL COMPANY

INCOME STATEMENT

FOR THE YEAR ENDED DECEMBER $31,2020$

Sales revenue

$$7,030,000$

Cost of goods sold

$\backslash$table$[[$Beginning inventory,$$1,950,000,],[$Purchases$,4,600,000,],[$Goods available for sale,$6,550,000,],[$Ending inventory,$1,680,000,],[$Cost of goods sold,,$4,870,000$