Final answer:
The cost of goods available for sale for Barnett Restaurant Equipment is $83,000, calculated by adding beginning inventory with purchases and freight-in and subtracting purchase returns.
Step-by-step explanation:
The student is asking how to calculate the cost of goods available for sale based on provided inventory and purchase details for Barnett Restaurant Equipment. The cost of goods available for sale is calculated by adding the beginning inventory to purchases and freight-in, then subtracting purchase returns. Using the provided figures:
- Beginning Merchandise Inventory: $20,000
- Plus Purchases: $60,000
- Minus Purchase Returns: $2,000
- Plus Freight-in: $5,000
The cost of goods available for sale is ($20,000 + $60,000 - $2,000 + $5,000), which equals $83,000.