Group query results by month and year in postgresql

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I have the following database table on a Postgres server: 

id      date          Product Sales
1245    01/04/2013    Toys    1000     
1245    01/04/2013    Toys    2000
1231    01/02/2013    Bicycle 50000
456461  01/01/2014    Bananas 4546

I would like to create a query that gives the SUM of the Sales column and groups the results by month and year as follows:

Apr    2013    3000     Toys
Feb    2013    50000    Bicycle
Jan    2014    4546     Bananas

Is there a simple way to do that?

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