# Calculate the goods available for sale for Atlantis Company, in units and in dollar amounts, given the following facts about their inventory for the period:

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### Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685

#### Solutions

Chapter
Section
FindFindarrow_forward

### Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685
Chapter 10, Problem 1EA
Textbook Problem
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## Calculate the goods available for sale for Atlantis Company, in units and in dollar amounts, given the following facts about their inventory for the period:

To determine

Concept introduction:

Cost of Goods available for sale is the sum of beginning inventory and the goods purchased. Cost of Goods available for sale is calculated using the following formulas:

• Cost of Goods Available for sale= Beginning inventory + Purchases.
• Cost of Goods Available for sale= Cost of goods sold + Ending Inventory

To calculate:

Cost of Goods available for sale in units and dollar amount.

### Explanation of Solution

Cost of Goods available for sale in units and dollar amount is calculated as follows:

 Number of Units Cost per unit Total Cost Beginning Inventory (A) 140 \$ 75 \$ 10,500

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