Question

Lakeside Manufacturing provided the following information for the month ended March​ 31:Sales Revenue​$26,000Beginning Finished Goods Inventory​8,000Ending Finished Goods Inventory​13,500Cost of Goods Manufactured​15,600Compute cost of goods available for sale.

Answer 1

Answer:

cost of goods available for sale= $29,100

Explanation:

Giving the following information:

Sales Revenue​$26,000

Beginning Finished Goods Inventory​8,000

Ending Finished Goods Inventory​13,500

Cost of Goods Manufactured​15,600

cost of goods available for sale= beginning finished goods inventory + purchases

We have to find the amount of purchases.

We know that:

cost of goods manufactured= Beginning Finished Goods Inventory​ + purchases - Ending Finished Goods Inventory​

15600= 8000 + purchases - 13500

purchases= 15600 - 8000 + 13500

purcases= 21,100

cost of goods available for sale= 8000 + 21100= $29,100