Cost of goods available for sale is allocated between endinginventoryandcost of goods sold.Cost of goods available for sale represents the total cost of inventory that a company has available to sell during a specific period. This cost includes the beginning inventory, which is the value of inventory at the start of the period, and the netpurchases, which are the costs incurred to acquire additional inventory during the period. To accurately report the financial results, the cost of goods available for sale needs to be allocated between the ending inventory and the cost of goods sold.The ending inventory represents the value of inventory that remains unsold at the end of the accounting period. It is important to determine the cost of inventory that is still on hand to properly assess the company's assets andcalculatethe cost of goods sold. The cost of goods sold represents the total cost of inventory that was sold during the period. It is an expense recorded on the income statement and reflects the cost of the goods that were removed from inventory and delivered to customers.To allocate the cost of goods available for sale between ending inventory and cost of goods sold, the company typically uses an inventoryvaluationmethod such as First-In, First-Out (FIFO), Last-In, First-Out (LIFO), or weighted average cost.These methods determine how the cost of goods available for sale is assigned to the ending inventory and cost of goods sold based on the flow of inventory and the specific costingassumptions. The goal is to match the costs with the corresponding revenue from the sale of goods, providing an accurate representation of the company's financial performance and the value of the remaining inventory.Learn more aboutinventoryhere:brainly.com/question/31146932#SPJ11...

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