Denton Hardware Had Beginning Inventory of $44,000 on January 1

Essay

Denton Hardware had beginning inventory of $44,000 on January 1, 2012. During 2012, Denton purchased $610,000 of goods from a supplier. On December 31, 2012, the cost of unsold inventory was $50,000. Compute Denton's cost of goods available for sale and cost of goods sold for 2012.