Examlex
Which of the following is necessary for computing cost of goods sold but not necessary for computing goods available for sale?
Total Liabilities
The sum of all financial obligations a company owes to outside parties, including both short-term and long-term debts.
Total Equity
The total net value of a company, calculated as the difference between total assets and total liabilities, representing the ownership interest of the shareholders.
Working Capital
The difference between a company’s current assets and current liabilities, indicating the short-term financial health and operational efficiency.
Year-End Balance Sheet
A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at the end of a fiscal year.
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