The shipment Frederick ordered for the paint department at his hardware store arrived. As he checked the shipment, he referred to his expanded income statement below. The Goods Available for Sale total is __________. a.) $43,000 b.) $11,000 c.) $97,000 d.) $69,000
The cost of goods available for sale equals the beginning value of inventory plus the cost of goods purchased. The cost of goods sold equals the cost of goods available for sale giving you the ending value inventory.
