The cost of goods available for sale is allocated between

A) beginning inventory and ending inventory.
B) beginning inventory and cost of goods on hand.
C) ending inventory and cost of goods sold.
D) beginning inventory and cost of goods purchased.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor involved.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated as the beginning inventory plus purchases minus the cost of goods sold.

Beginning Inventory

The value of all products, goods, and materials in stock at the start of an accounting period.