Cost of goods available for sale consists of the
A)cost of beginning inventory plus the cost of ending inventory.
B)cost of ending inventory plus the cost of goods purchased during the year.
C)cost of beginning inventory plus the cost of goods purchased during the year.
D)difference between the cost of goods purchased and the cost of goods sold during the year.

Question

Quizplus · Accepted Answer

The cost of goods available for sale is calculated by adding the cost of beginning inventory to the cost of goods purchased during the year. This total represents all the goods that were available to be sold during the period.

Cost of Goods Available for Sale Consists of the