Daniel Jackson is the owner of ABC Cleaning. At the beginning of the year, Jackson had $2,400 in inventory. During the year, Jackson purchased inventory that cost $13,000. 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 ABC Cleaning would report on its year-end balance sheet.