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Crystal Inc What Is the Cost of Goods Available for Sale for Sold

question 83

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Crystal Inc. is a merchandiser of stone ornaments. The company sold 15,000 units in 2015. The company has provided the following information:  Sales Revenue $557,000 Purchases (excluding freight in)  300,000 Selling and Administrative Expenses 69,000 Freight In 15,000 Beginning Merchandise Inventory 45,000 Ending Merchandise Inventory 55,700\begin{array} { | l | r | } \hline \text { Sales Revenue } & \$ 557,000 \\\hline \text { Purchases (excluding freight in) } & 300,000 \\\hline \text { Selling and Administrative Expenses } & 69,000 \\\hline \text { Freight In } & 15,000 \\\hline \text { Beginning Merchandise Inventory } & 45,000 \\\hline \text { Ending Merchandise Inventory } & 55,700 \\\hline\end{array} What is the cost of goods available for sale for 2015?

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Definitions:

Tattoos

Permanent markings made on the skin by inserting ink and needles to create designs or text.

Puncturing

The act of creating a hole or piercing through a material or surface.

Dyes

Substances used to add or change color in materials such as fabric, hair, or food.

Colored Designs

Artistic creations that utilize colors strategically to enhance aesthetics and convey meanings.

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