# Describe two separate and distinct ways to calculate goods available for sale.

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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 8Q
Textbook Problem
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## Describe two separate and distinct ways to calculate goods available for sale.

To determine

Concept introduction:

Cost of Goods available for sale is the sum of beginning inventory and the goods purchased.

Cost of Goods sold is calculated with the help of following formulas:

Cost of goods sold = Beginning Inventory + Purchases − Ending Inventory

Or

Cost of goods sold = Goods Available for sale − Ending Inventory

To indicate:

The two ways to calculate the Cost of Goods available for sale.

### Explanation of Solution

Cost of Goods available for sale indicates the cost of the completed goods which are ready for sale. These units include the unit in the beginning inventory and units purchased during the period...

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