If beginning inventory is $5,000,ending inventory is $3,000,net purchases is $12,000 and Freight-in is $400,what is the Cost of Goods Available for Sale?
A)$17,400
B)$17,000
C)$14,400
D)$14,000

Question

Quizplus · Accepted Answer

Cost of Goods Available for Sale is calculated as Beginning Inventory + Net Purchases + Freight-in. Therefore, $5,000 + $12,000 + $400 = $17,400.

If Beginning Inventory Is $5,000,ending Inventory Is $3,000,net Purchases Is