Concord Distribution markets CDs of the performing artist Fishe. At the beginning of October, Concord had in beginning inventory 4,500 of Fishe’s CDs with a unit cost of $6. During October, Concord made the following purchases of Fishe’s CDs.

Oct 3, 2500 $8
Oct 9 3500 $9
Oct 19 3000 $10
Oct 25 4000 $11

During October, 10,900 units were sold. Express uses a periodic inventory system. Determine the cost of goods available for sale.

Value economics capital scarcity opportunity cost wealth labor trade-offs standard of living good a. condition of not having enough resources to produce all the things people want b. alternative choices made by consumers in the marketplace c. sum of those economic products that are tangible, scarce, useful, and transferable d. tools, equipment, machinery, and factories used in the production of goods and services e. tangible item that is economically useful or that satisfies an economic want f. quality of life based on the ownership of the necessities and luxuries that make life easier g. people with all their efforts, abilities, and skills h. cost of the next-best alternative use of money, time, or resources when one choice is made rather than another i. study of how people try to satisfy their needs through the careful use of scarce resources j. worth that can be expressed in dollars and cents