Goods available for sale minus the ending inventory equals cost of goods sold.

Name: Goods available for sale minus the ending inventory equals cost of goods sold.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Goods available for sale is the total amount of goods that were available to be sold during a period, and when you subtract the ending inventory (goods not sold by the end of the period), you get the cost of goods sold (COGS), which represents the cost of the goods that were actually sold during that period.

Goods Available for Sale Minus the Ending Inventory Equals Cost