Beginning inventory plus net cost of purchases is:
A)Cost of goods sold.
B)Merchandise available for sale.
C)Ending inventory.
D)Sales.
E)Shown on the balance sheet.

Question

Quizplus · Accepted Answer

Beginning inventory is the amount of inventory on hand at the beginning of the period and the net cost of purchases is the cost of inventory acquired during the period. Adding these two together gives the total merchandise available for sale during the period.

Beginning Inventory Plus Net Cost of Purchases Is