Page's sells books. The following information summarizes the company's operating expenses for the year: What is cost of goods available for sale?
A)$116,000
B)$65,000
C)$119,000
D)$108,000

Question

Page's sells books. The following information summarizes the company's operating expenses for the year:  What is cost of goods available for sale?
A)$116,000 
B)$65,000 
C)$119,000 
D)$108,000

Quizplus · Accepted Answer

Cost of goods available for sale is calculated by adding the beginning inventory to the purchases made during the year. In this case, the beginning inventory is not provided, but the purchases amount to $119,000. Therefore, the cost of goods available for sale is $119,000.

Page's Sells Books