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Financial Accounting 101 Study Guide Exam questions with correct answers 2026/2027 Edition Graded A+ Cost of Goods Sold -beginning inventory + cost of goods purchased = cost of goods available for sale - ending inventory = COST OF GOODS SOLD

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Financial Accounting 101 Study Guide Exam questions with correct answers 2026/2027 Edition Graded A+ Cost of Goods Sold -beginning inventory + cost of goods purchased = cost of goods available for sale - ending inventory = COST OF GOODS SOLD

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ACC 1O1/102/202
ACC/FIN/110.
Accounting
CPA 2026/2027 BUSINESS

, Financial Accounting 101 Study
Guide Exam questions with
correct answers 2026/2027
Edition Graded A+
Cost of Goods Sold - ✅✅beginning inventory
+ cost of goods purchased
= cost of goods available for sale
- ending inventory
= COST OF GOODS SOLD


Quick Assets - ✅✅cash
accounts receivables
(sometimes inventory)


Current Liabilities - ✅✅notes payable
accounts payable
income tax payable
salary/wages payable

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