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Calculate cost of goods available for sale during the year

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Reference no: EM13510727

Joe Dodd owns Joe's Sporting Goods. At the beginning of the year, Joe's had $8,400 in inventory. During the year, Joe's purchased inventory that cost $42,000. At the end of the year, inventory on hand amounted to $17,600.

Required
Calculate the following:
a. Cost of goods available for sale during the year.
b. Cost of goods sold for the year.
c. Amount of inventory Joe's would report on the year-end balance sheet.

 

Reference no: EM13510727

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