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Goods Available For Sale

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This is the amount of merchandise you would theoretically have at the end of the month if there had been no sales, plus the freight charges for the month minus returns and discounts. In words, the Goods Available for Sale is: Opening Inventory (previous month’s closing inventory) plus Cost of Goods Purchased (purchases this month) plus Freight of Incoming goods (freight on purchases this month) minus Returns to Vendor This Period minus Vendor Discounts This Period (discounts actually taken this month — discounts marked as taken on a payment to a vendor) equals Goods Available for Sale.