Question

Sara Hitt is the owner of SH Cleaning. At the beginning of the year, Hitt had $4,800 in inventory. During the year, Hitt purchased inventory that cost $26,000. At the end of the year, inventory on hand amounted to $3,600.

Required
Calculate the following:
a. Cost of goods available for sale during the year.
b. Cost of goods sold for the year.
c. Inventory amount SH Cleaning would report on its year-end balance sheet.



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  • CreatedOctober 26, 2013
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