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Soriano Company had net sales of $300,000 for the month (after returns and allowances of $1,500 and sales discounts of $3,250).Beginning inventory for the month was $60,000;purchases for the month were $175,000;and gross profit was 43%.
-Refer to the information above.What were the goods available for sale for the month?
A)$129,000
B)$171,000
C)$235,000
D)$304,750

Question

Quizplus · Accepted Answer

The goods available for sale for the month can be calculated by adding the beginning inventory ($60,000) and purchases for the month ($175,000), which equals $235,000.

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