question 3 (4 points)\nlisten\nwhich of the following statements is correct?\nthe beginning inventory plus…

question 3 (4 points)\nlisten\nwhich of the following statements is correct?\nthe beginning inventory plus the net cost of purchases is equal to the merchandise available for sale.\nthe ending inventory plus the cost of goods sold is equal to the merchandise available for sale.\nthe merchandise available for sale less the ending inventory is equal to the cost of goods sold.\nall of the above.\nnone of the above.

question 3 (4 points)\nlisten\nwhich of the following statements is correct?\nthe beginning inventory plus the net cost of purchases is equal to the merchandise available for sale.\nthe ending inventory plus the cost of goods sold is equal to the merchandise available for sale.\nthe merchandise available for sale less the ending inventory is equal to the cost of goods sold.\nall of the above.\nnone of the above.

Answer

Brief Explanations:

  • For the first statement:
    • The formula for merchandise available for sale is (Merchandise\ available\ for\ sale=Beginning\ inventory + Net\ cost\ of\ purchases). So, the first statement is correct.
  • For the second statement:
    • Also, (Merchandise\ available\ for\ sale = Ending\ inventory+Cost\ of\ goods\ sold). So, the second statement is correct.
  • For the third statement:
    • Rearranging the formula (Merchandise\ available\ for\ sale = Ending\ inventory+Cost\ of\ goods\ sold) gives (Cost\ of\ goods\ sold=Merchandise\ available\ for\ sale - Ending\ inventory). So, the third statement is correct.

Since all the first three statements are correct.

Answer:

All of the above.