The portion of cost of goods available for sale that is not assigned to ending inventory is assigned to cost of goods sold.

Question

Quizplus · Accepted Answer

Cost of goods sold represents the cost of the goods that were actually sold during the period, and it is calculated by subtracting the ending inventory from the cost of goods available for sale. Therefore, any portion of cost of goods available for sale that is not assigned to ending inventory is assigned to cost of goods sold.

The Portion of Cost of Goods Available for Sale That