The difference between Cost of Goods Sold and Cost of Goods Available for Sale is:
A: Beginning Inventory
B: Ending Inventory
C: Net Sales
D: Net Purchases
A: Beginning Inventory
B: Ending Inventory
C: Net Sales
D: Net Purchases
举一反三
- Budgeted purchases =beginning inventory + cost of goods sold – desired ending inventory.
- ___________ is the average number of times the inventory is sold per year. A: a. Inventory storage B: b. Cost of goods sold C: c. Cost of goods available for sale D: d. Inventory turnover
- Beginning merchandise inventory plus the net cost of purchases is the merchandise available for sale.
- Inventory turnover can be<br/>calculated by: () A: adding beginning and ending<br/>inventory; divide by two B: dividing the cost of goods<br/>sold by average inventory C: dividing average inventory<br/>by the cost of goods sold D: multiplying average<br/>inventory by 1.5
- The difference between your sales and your cost of goods sold is known as your _____. A: net profit B: cost of doing business C: owner’s equity D: gross profit or gross margin