Abaco Enterprises had beginning inventory of $30,000 at March 1, 2011. During the month, the company...
Abaco Enterprises had beginning inventory of $30,000 at March 1, 2011. During the month, the company made purchases of $240,000. The inventory at the end of the month is $34,000. What is cost of goods available for sale for the month of March?
a. $30,000
b. $34,000
c. $236,000
d. $270,000
Homework Answers
Answer :- Calculation of Cost of goods available for sale for the month of March :-
Cost of goods available for sale = Beginning Inventory + Purchase of goods
Cost of goods available for sale = $30,000 + $240,000
Cost of goods available for sale = $270,000
So the correct answer is option D.($270,000)
And you can find the cost of goods sold by dividing ending inventory from the cost of goods available for sale.
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