The cost of goods available for sale is allocated to the cost of goods sold and the

Name: The cost of goods available for sale is allocated to the cost of goods sold and the
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The cost of goods available for sale is allocated between the cost of goods sold and the ending inventory. The beginning inventory and purchases during the period make up the cost of goods available for sale, which is then divided between what was sold and what remains at the end of the period as ending inventory.

The Cost of Goods Available for Sale Is Allocated to the Cost