What is the cost of goods available for sale for the year

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Reference no: EM131971772

Problem

Robbinsdale, Inc. is a merchandiser of stone ornaments. The company sold 7,000 units during the year. The company has provided the following information:

Sales Revenue $587,000

Purchases (excluding freight in) 305,000

Selling and Administrative Expenses 66,000

Freight In 13,000

Beginning Merchandise Inventory 43,000

Ending Merchandise Inventory 43,000

What is the cost of goods available for sale for the year?

Reference no: EM131971772

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