FAD Company uses a periodic inventory system and its inventory records for the period contain the following information: What is the amount of cost of goods available for sale?
A)$11,250
B)$17,500
C)$5,000
D)$13,750

Question

FAD Company uses a periodic inventory system and its inventory records for the period contain the following information:  What is the amount of cost of goods available for sale?
A)$11,250 
B)$17,500 
C)$5,000 
D)$13,750

Quizplus · Accepted Answer

Cost of goods available for sale = Beginning inventory + Purchases
= $3,750 + $7,500 = $11,250

FAD Company Uses a Periodic Inventory System and Its Inventory