The amount of cost of goods available for sale during the year depends on the amounts of
A)beginning merchandise inventory,net cost of purchases,and ending merchandise inventory.
B)beginning merchandise inventory and cost of goods sold.
C)beginning merchandise inventory,cost of goods sold,and ending merchandise inventory.
D)beginning merchandise inventory and net cost of purchases.

Question

Quizplus · Accepted Answer

The cost of goods available for sale during the year is determined by the sum of the beginning merchandise inventory and the net cost of purchases. It does not directly include the ending merchandise inventory or the cost of goods sold, as these figures are used in different parts of the inventory and cost of goods sold calculation process.

The Amount of Cost of Goods Available for Sale During