Which of the following is necessary for computing cost of goods sold but not necessary for computing goods available for sale?
A) Freight-in
B) Purchases
C) Ending merchandise inventory
D) Beginning merchandise inventory

Question

Quizplus · Accepted Answer

Ending merchandise inventory is subtracted from goods available for sale to compute cost of goods sold, but it is not needed to compute goods available for sale itself.

Which of the Following Is Necessary for Computing Cost of Goods