Editing Voice Styles Sense Paragraph 18. The sum of ending inventory and cost of goods sold is a. goods available for sale b. net purchases c. gross profit d. beginning inventory 19. Sales are $500,000, and cost of goods sold is $300,000. Beginning and ending inventories are $25,000 and $35,000, respectively. How many times did the company turn its inventory over during this period? a. 16.7 times b. 6.7 times 8 times d. 10 times C. 20. Which is the correct order of the steps in the accounting cycle during the accounting period? a. Transaction analysis, journal entries, trial balance b. Transaction analysis, journal entries, posting to the accounts c. Transaction analysis, posting to the accounts, journal entries d. Transaction analysis, posting to the accounts, adjusting the accounts