In the Schedule of Cost of Goods Sold, which of the following is true? (.5

1. Cost of goods available for sale = Ending finished goods inventory + Cost of goods manufactured.
2. Unadjusted cost of goods sold = Beginning finished goods inventory + Cost of goods manufactured Ending finished goods inventory.

Question 5 options:

	Only statement II is true.
	Both statements I and II are true.
	Neither statement is true.
	Only statement I is true.