Question

McKendrick Shoe Store has a beginning inventory of $45,000. During the period, purchases were $195,000; purchase returns, $6,000; and freight-in $15,000. A physical count of inventory at the end of the period revealed that $30,000 was still on hand. The cost of goods available for sale was

a. $189,000.
b. $204,000.
c. $219,000.
d. $249,000.

Answer 1

d. $249,000

Step-by-step explanation:

cost of goods available for sale

= $45,000 + $195,000 - $6,000 + $15,000

= $249000

Therefore, The cost of goods available for sale was $249000.