Acompany begins the year with inventory of $63,000 and ends the year with inventory of $53,000. during the year, the company has four purchases for the following amounts.

purchase on february 17: $218,000
purchase on may 6: 138,000
purchase on september 8: 168,000
purchase on december 4: 418,000

calculate the cost of goods sold for the year

Mesa company produces wooden rocking chairs. the company has two production departments, cutting and assembly. the wood is cut and sanded in cutting and then transferred to assembly to be assembled and painted. from assembly, the chairs are transferred to finished goods inventory and then are sold.mesa has compiled the following information for the month of february: cutting department assemblydepartmentdirect materials $ 73,000 $ 13,000direct labor 73,000 108,000applied manufacturing overhead 159,000 171,000cost of goods completed and transferred out 233,000 255,000required: 1, 2, 3, & 4. prepare journal entries for the transactions in the cutting and assembly departments of mesa company. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)