Linville Company had beginning inventory on May 1 of $12,000. During the month, the company made purchases of $30,000 but returned $2,000 of goods because they were defective. At the end of the month, the inventory on hand was valued at $9,500.
Calculate cost of goods available for sale and cost of goods sold for the month.

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The Answer of Linville Company had beginning inventory on May 1 of $12,000. During the month, the company made purchases of $30,000 but returned $2,000 of goods because they were defective. At the end of the month, the inventory on hand was valued at $9,500.
Calculate cost of goods available for sale and cost of goods sold for the month.

Linville Company Had Beginning Inventory on May 1 of $12,000