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what is Cost of Goods Sold give example?
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Answer / venu gopal joshi
Opening stock + purchases - Closing stock = cost of goods sold.
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / h.r. sreepada bhagi
For a Trading Company :
Product X purchase 1000 qty. @Rs.15/- =Rs.15000/-
Stock at the end of the month / year =Rs. 9000/-(900 units)
Cost of goods sold (COGS) = Rs. 6000/- (For 600 units)
For a Manufacturing Company :-
Material Y purchase 1000 qty., @Rs.20/- =Rs.20000/-
Material Z purchase 1500 qty., @Rs.10/- =Rs.15000/-
Production Overhead =Rs.10000/-
Total Cost of Product X manufactured =Rs.45000/-(500 qty.)
Closing Stock of Product X (200 units) =Rs.18000/-
Cost of Goods Sold (COGS Product X) =Rs.27000/- (300 qty.)
the above are only examples and it should be calculated as
per the policies and methods applicable in the company
concerned.
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / a.lokesh
cost of goods sold means raw material purchase and material purchase
| Is This Answer Correct ? | 0 Yes | 5 No |
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