The Cost of Goods Available for Sale Consists of the Beginning

question 173

True/False

The cost of goods available for sale consists of the beginning inventory plus the cost of goods purchased.

---

Definitions:

British Pound

The currency of the United Kingdom, known officially as the pound sterling, and recognized by its symbol £.

Exports

Goods or services produced in one country and sold to buyers in another, contributing to a country's economic growth and balance of trade.

Imports

Goods and services bought by a country from another country.

Trade Deficit

The amount by which the value of a nation’s imports exceed the value of its exports.