The cost of goods available for sale is allocated between
A)beginning inventory and ending inventory.
B)beginning inventory and cost of goods on hand.
C)beginning inventory and cost of goods purchased.
D)ending inventory and cost of goods sold.

Question

Quizplus · Accepted Answer

The cost of goods available for sale is allocated between ending inventory and cost of goods sold. This allocation is essential for accurately reporting the value of inventory still available at the end of a period and the cost of goods that were sold during the period.

The Cost of Goods Available for Sale Is Allocated Between