Cost of Goods Sold and Merchandise Available for Sale in a Merchandising Company
Dash Department Store features women's fashions. At the beginning of the year, the store had $531,400 in merchandise. Total purchases for the year were $475,200.
Required:
A. Calculate the cost of goods sold for the year, assuming that the year-end inventory was $482,400.
$
B. What was the total amount of merchandise available for sale during the year?
$