Answer: $912,000
Step-by-step explanation:
The cost of goods sold for the year will be:
Beginning inventory = $53,000
Add: Purchases = ($208,000 + $128,000 + $158,000 + $408,000) = $902,000
Cost of goods available for sale = $955,000
Less: Ending inventory = ($43,000)
Cost of goods sold = $912,000