Russell 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 sold for the year.
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