Roy’s Selection is a local men’s clothing store. Roy’s buys clothing and accessories from manufacturers and marks them up by 55 percent. Roy’s began the year with $155,000 worth of items ($240,250 retail value) and bought $350,000 (retail value $542,500) worth of items during the year. Ending inventory is $95,000 (retail value $147,250).

Required
A. Calculate Roy’s cost of goods sold for the year.
B. Calculate Roy’s sales for the year.