What is the cost of goods available for sale on these financial accounting question? FAD Traders Inc. uses a periodic inventory system, and itsinventory records for the period contain the following information:•Beginning inventory = 120 units @ $60/unit - $7,200•Purchases 200 units @ $60/unit - $12,000•Ending inventory = 170 units @ $60/unit - $10,200What is the cost of goods available for sale (COGAS)?a) $28,000b) $19,200c) $22,200d) $9,000

To calculate the Cost of Goods Available for Sale (COGAS), we use the formula: COGAS = Beginning…

Answered: FAD Traders Inc. uses a periodic…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 7MCQ

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