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"and the ending inventory is estimated by adding cost of goods sold to goods available for sale."
It should say something like:
"and the ending inventory is estimated by first subtracting the cost of goods sold from the total amount of goods purchased, and then adding the remaining difference to the goods available for sale."
Correct:
Beginning Inventory 241.12
+ Purchases 675.88 = 917.00
- Remaining Inventory 897.00
= Cost of Goods Sold 20.00
Incorrect:
Cost of Goods Sold 20.00
+ Beginning Inventory 241.12
= Remaining Inventory 261.12 (wrong its 897.00)
(IDofR (talk) 03:03, 18 March 2011 (UTC))[reply]
