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) ending inventory and cost of goods sold.
D) beginning inventory and cost of goods purchased.

Question

Quizplus · Accepted Answer

The cost of goods available for sale is allocated between ending inventory and cost of goods sold. Beginning inventory is used to calculate the cost of goods sold, but it is not directly allocated as a separate category.

The Cost of Goods Available for Sale Is Allocated Between