Robbinsdale,Inc.is a merchandiser of stone ornaments.The company sold 8,000 units during the year.The company has provided the following information:

What is the cost of goods available for sale for the year?
A)$361,000
B)$318,000
C)$346,000
D)$331,000

Question

Robbinsdale,Inc.is a merchandiser of stone ornaments.The company sold 8,000 units during the year.The company has provided the following information:

What is the cost of goods available for sale for the year?
A)$361,000 
B)$318,000 
C)$346,000 
D)$331,000

Quizplus · Accepted Answer

A)Cost of goods available for sale = Beginning Merchandise Inventory + Purchases + Freight In = $46,000 + $300,000 + $15,000 = $361,000