Which of the following lists of items is used to compute the cost of goods available...

Which of the following lists of items is used to compute the cost of goods available for sale?

a.Sales, beginning inventory, and ending inventory b.Gross profit, beginning inventory, and ending inventory c.Beginning inventory and ending inventory d.Net sales, beginning inventory, and ending inventory e.Delivered cost of purchases and beginning inventory

Expert Solution

Answer : E = Delivered cost of purchases and beginning inventory.

>> Cost of goods available for sale includes beginning inventory and purchases during the period.

>> Net sales and ending inventory is not used to calculate cost of goods available for sale.

ekkarill92 answered 2 years ago

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