Homework Answers
Cost of goods available for sale can be calculated in the following two manners:
Cost of goods available for sale = Beginning inventory of Finished Good+ Cost of goods Manufactured
OR
Cost of goods available for sale = Cost of goods sold + ending inventory of Finished Goods
In the question, Cost of goods Manufactured. is not given, hence Cost of goods available for sale can be calculated by using second formula:
Cost of goods sold = $ 18,200
Ending inventory of Finished Good$ 2,200
Cost of goods available for sale= Cost of goods sold + Ending inventory of Finished Good
= 18200 + 2200
= 20,400
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