Cost of goods available for sale represents beginning merchandise inventory plus net purchases less freight in....

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Question

Cost of goods available for sale represents beginning merchandise inventory plus net purchases less freight in....

Cost of goods available for sale represents beginning merchandise inventory plus net purchases less freight in. TRUE OR FALSE?

business accounting

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Answer 1

Answer #1

False

Cost of Goods available for sale

= Cost of obtaining goods and making them available for sale + beginning inventory cost + Purchases + Freight in - Purchase returns and discounts

Hence the statement is false.

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Answer 2

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