The cost of goods available for sale includes
A)just beginning inventory.
B)beginning inventory less ending inventory.
C)beginning inventory plus purchases less ending inventory.
D)beginning inventory plus purchases.

Question

Quizplus · Accepted Answer

The cost of goods available for sale is calculated by adding the beginning inventory to the purchases made during the period. This gives the total amount of goods that were available to be sold, regardless of whether they were actually sold by the end of the period.

The Cost of Goods Available for Sale Includes