Based on the information involving the changes in inventory and its relationship to goods available for sale as shown below, please calculate Cost of Goods Sold for 2021:

	Year 2021	Year 2022
Beginning inventory	10,000	7,000
Purchases	25,000	16,000
Goods available for sale	?	?
Ending inventory	7,000	?
Cost of goods sold	?	8,500

Your Answer:

Question 2 options:

Answer

Question 3 (10 points)

Based on the information involving the changes in inventory and its relationship to goods available for sale as shown below, please calculate Ending Inventory for 2022:

	Year 2021	Year 2022
Beginning inventory	10,000	7,000
Purchases	25,000	16,000
Goods available for sale	?	?
Ending inventory	7,000	?
Cost of goods sold	?	8,500

Your Answer:

Question 3 options:

Answer