Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2023 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 130 units @$ 6.90 = $ 60 units @$15.40 = 290 units @s 6.20 = 120 units @$15.40- 540 units @$ 6.00- 490 units @s 5.90 660 units @ $15.40 Total goods available for sale Required: 1. Calculate the total goods available for sale (in units and cost). Units 897.990 924.00 Cost 1,798.00 1,848.00 3,240.00 2,891.00 10,164.00

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in…