Chicago Steel's operating activities for the year are listed below. 
What is the cost of goods sold for the year?
Definitions:
Positive Profits
Financial gains experienced by a firm when its total revenues exceed its total costs.
Brand Names
Brand names are names given to a product or service by a company to differentiate it from competitors, signifying reputation and quality.
Less Developed Country
A country characterized by low levels of economic development, often measured by GDP per capita, industrialization, and standard of living.
Monopolistically Competitive
A market structure characterized by many firms selling products that are similar but not identical, allowing for some degree of market power and product differentiation.
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