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Foxburg Company has the following information: Finished Goods $1,050 $2,200 Materials $1,150 $2,800 Beginning inventory Endin

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Answer #1

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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