Which of the Following Statements Regarding Inventory Calculations Is True

question 101

Multiple Choice

Which of the following statements regarding inventory calculations is true?

• A)Beginning inventory + net purchases - ending inventory = cost of goods sold.
• B)Goods available for sale + ending inventory = cost of goods sold.
• C)Beginning inventory + net purchases - ending inventory = goods available for sale.
• D)Goods available for sale + cost of goods sold = ending inventory.

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Definitions:

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An estimate of the price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell.

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A type of alternative dispute resolution in which disputes are submitted for resolution to private nonofficial persons selected in a manner provided by law or the agreement of the parties.

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