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3 April, 02:59

Robbinsdale, Inc. is a merchandiser of stone ornaments. The company sold 8,000 units during the year. The company has provided the following information:Sales Revenue $593,000Purchases (excluding freight in) 300,000Selling and Administrative Expenses 66,000Freight In 15,000Beginning Merchandise Inventory 46,000Ending Merchandise Inventory 43,000What is the cost of goods available for sale for the year?

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  1. 3 April, 03:14
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    cost of goods available for sale = $361,000

    Explanation:

    Giving the following information:

    The company sold 8,000 units during the year. The company has provided the following information:

    Sales Revenue $593,000

    Purchases (excluding freight in) 300,000

    Selling and Administrative Expenses 66,000

    Freight In 15,000

    Beginning Merchandise Inventory 46,000

    Ending Merchandise Inventory 43,000

    Cost of goods available for sale = beginning inventory + purchases

    Cost of goods available for sale = 46000 + (300000+15000) = $361000
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