Lakeside Manufacturing provided the following information for the month ended March 31: $$\begin{array} { | l | r | }
\hline \text { Sales Revenue } & \$ 23,000 \
\hline \text { Beginning Finished Goods Inventory } & 7,000 \
\hline \text { Ending Finished Goods Inventory } & 9,500 \
\hline \text { Cost of Goods Manufactured } & 13,600 \
\hline
\end{array}$$
Compute cost of goods available for sale.
A) $13,600
B) $23,100
C) $20,600
D) $11,100

Question

Lakeside Manufacturing provided the following information for the month ended March 31: $$\begin{array} { | l | r | } 
\hline \text { Sales Revenue } & \$ 23,000 \
\hline \text { Beginning Finished Goods Inventory } & 7,000 \
\hline \text { Ending Finished Goods Inventory } & 9,500 \
\hline \text { Cost of Goods Manufactured } & 13,600 \
\hline
\end{array}$$ 
Compute cost of goods available for sale.
A) $13,600
B) $23,100
C) $20,600
D) $11,100

Quizplus · Accepted Answer

Cost of Goods Available for Sale = Beginning Finished Goods Inventory + Cost of Goods Manufactured = $7,000 + $13,600 = $20,600.

Lakeside Manufacturing Provided the Following Information for the Month Ended