Question

What is the value of the goods purchased

Answer 1

Answer:

Cost of goods sold (COGS) is the carrying value of goods sold during a particular period. Costs are associated with particular goods using one of the several formulas, including specific identification, first-in first-out (FIFO), or average cost.

Explanation:

what are goods purchased for resale?

A category of finished items that are sold to a retailer by a manufacturer or distributer and are eventually intended to be sold to consumers for profit. These are not considered end-user goods at the time of purchase by the retailer because are still in the distribution phase.