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)$117,200
B)$65,500
C)$120,200
D)$102,200

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)$117,200 
B)$65,500 
C)$120,200 
D)$102,200

Quizplus · Accepted Answer

Cost of goods available for sale is calculated by adding beginning inventory and purchases. From the given information, beginning inventory is $20,000 and purchases are $100,200. Therefore, the cost of goods available for sale is $120,200.

Page's Sells Books