College Accounting (Book Only): A ...
Solutions
College Accounting (Book Only): A ...
What is the difference between the cost of goods available for sale and the cost of goods sold?
Mention the term that indicates the difference between cost of goods available for sale and cost of goods sold.
Cost of goods available for sale: Cost of goods available for sale is the total of cost of beginning inventory and the cost of inventory bought during the period.
Computation of cost of goods available for sale:
| Cost of Goods Sold Available For Sale | |
| Beginning inventory balance | $XXX |
| Inventory bought during the period | XXX |
| Cost of goods available for sale | $XXX |
Table (1)
Cost of goods sold: The amount of cost of merchandise sold during a certain period is referred to as cost of goods sold...
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