The cost of goods available for sale is allocated between
A) beginning inventory and ending inventory.
B) beginning inventory and cost of goods on hand.
C) beginning inventory and cost of goods purchased.
D) ending inventory and cost of goods sold.

Question

Quizplus · Accepted Answer

The cost of goods available for sale is allocated between ending inventory and cost of goods sold, as these represent the goods that remain unsold and the goods that have been sold during the period, respectively.

The Cost of Goods Available for Sale Is Allocated Between