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what is cost of goods sold ?
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Answer / venkatesh
Sales minus gross profit is known as Cost of goods sold
| Is This Answer Correct ? | 24 Yes | 4 No |
Answer / b.swapna kothagudem
COGS= openingstock+purchase+directexpenses-closingstock
| Is This Answer Correct ? | 11 Yes | 1 No |
Answer / s.geetha
All the factory level expenses reduced from the sales
(or)
(purchases+all expenses)-sales=cogs
| Is This Answer Correct ? | 6 Yes | 4 No |
Answer / muhamed
Cost of Goods Sold Is nothing but It Can be directly
identified in the end Product.
Formula:
.Beginning Inventory + Purchases = Goods Available for Sale -
Ending Inventory = Cost of Goods Sold.
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / srinivas
it is Opening stock + Purchases + direct expenses- closing
stock
| Is This Answer Correct ? | 2 Yes | 1 No |
COST OF GOODS SOLD =
OPENING STOCK + NET PURCHASE - STOCK AT THE END + DIRECT
EXPENSES
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / durga rao
cost of good sold is opening stock+purchage+all expences-
sales+closing stock
| Is This Answer Correct ? | 5 Yes | 5 No |
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hdn Systems Pvt. Ltd., manufactures a consumer durable which passes through two processes M and N. From the following details prepare necessary process ledger accounts bringing out clearly the cost of the product at each stage. Process ‘M’ Process ‘N’ Materials (Rs.) 30,000 3,000 Labour (Rs.) 10,000 12,000 Overheads (Rs.) 7,000 8,600 Input (units) 20,000 17,500 Normal loss 10% 4% Scrap value of loss (per unit) Re. 1.00 Rs. 2.00 There is no opening or closing W-I-P or stock at processes. Final output from the process ‘N’ was 17,000 units
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