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What is the correct amount of cost of goods available

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Problem 1: Hans Company has 2 items that are under evaluation for possible year-end adjustments. First is the purchase with supplier invoice dated December 30, 2021 - $120,000. This was shipped FOB shipping point, freight prepaid. The freight costs $5,000. The purchase was recorded but the freight was not. Second is the purchase return of $20,000 which was made but not recorded. If the correct ending inventory is $200,000 and the cost of goods sold before adjustments is $5,000,000, what is the correct amount of cost of goods available for sale?

Reference no: EM132810287

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