Your client, The Hulk Corporation, conducted an early inventory count in its warehouse on December 29, 2018 and prepared a schedule of cost of goods sold, as follows:

The Hulk Corporation Schedule of Cost of Goods Sold For the period ended December 31, 2018 Beginning inventory 564,500 Net purchases 4,900,000 Total goods available for sale 5,464,500 Less: Ending inventory (per count) 600,500 Cost of goods sold 4,864,000