Adding together the ending merchandise inventory and cost of goods sold gives the amount of goods available for sale.

Name: Adding together the ending merchandise inventory and cost of goods sold gives the amount of goods available for sale.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement is true. The formula to calculate the amount of goods available for sale is Opening Inventory + Purchases – Ending Inventory, which can also be expressed as Ending Merchandise Inventory + Cost of Goods Sold.

Adding Together the Ending Merchandise Inventory and Cost of Goods