Question

Sperry Company had beginning inventory of $80,000, purchased merchandise during the period for $140,000, and had ending inventory of $95,000. How much was goods available for sale? A. $175.000 B. $155,000 C. $315,000 D. $125,000 E. None of these

Answer 1

cost of goods available for sale= $220,000

Step-by-step explanation:

Giving the following information:

Beginning inventory of $80,000

Purchased merchandise for $140,000

To calculate the cost of goods available for sale, we need to use the following formula:

cost of goods available for sale= beginning inventory + purchase

cost of goods available for sale= 80,000 + 140,000

cost of goods available for sale= $220,000