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Based on the information involving the changes in inventory and its relationship to goods available for sale as shown below, please calculate Cost of Goods

Based on the information involving the changes in inventory and its relationship to goods available for sale as shown below, please calculate Cost of Goods Sold for 2021:

Year 2021 Year 2022
Beginning inventory 10,000 7,000
Purchases 25,000 16,000
Goods available for sale ? ?
Ending inventory 7,000 ?
Cost of goods sold ? 8,500

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Question 3 (10 points)

Based on the information involving the changes in inventory and its relationship to goods available for sale as shown below, please calculate Ending Inventory for 2022:

Year 2021 Year 2022
Beginning inventory 10,000 7,000
Purchases 25,000 16,000
Goods available for sale ? ?
Ending inventory 7,000 ?
Cost of goods sold ? 8,500

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Question 3 options:

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