Bill Rose owns Rose Sporting Goods. At the beginning of the year, Rose Sporting Goods had $18,000 in inventory. During the year, Rose Sporting Goods purchased inventory that cost $66,000. At the end of the year, inventory on hand amounted to $28,500.Calculate the following:a. Cost of goods available for sale during the year. b. Cost of goods sold for the year. c. Amount of inventory Rose Sporting Goods would report on the year-end balance sheet.

Instructions are listed below.

Explanation:

Giving the following information:

At the beginning of the year, Rose Sporting Goods had $18,000 in inventory.

Purchases= $66,000.

Ending inventory cost= $28,500.

A) The cost of goods available for sale is the sum of beginning inventory and the purchases.

Cost of goods available for sale= 18,000 + 66,000= $84,000

B) COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS=  84,000 - 28,500= $55,500

C) The ending inventory is the amount of goods that weren't sold:

Ending inventory= $28,500

answer; intensive use of a sales force and is relatively costly;

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.