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Cost of goods available for sale during the year

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Reference no: EM13933287

Edd Gant owns Edd's Sporting Goods. At the beginning of the year, Edd's had $16,000 in inventory. During the year, Edd's purchased inventory that cost $65,000. At the end of the year, inventory on hand amounted to $26,300. 

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 Edd's would report on the year-end balance sheet.

Reference no: EM13933287

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