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define cost of goods sold
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Answer / ravi
opening stock+purchases+directexpenses-closing stock
=cost of goods sold
| Is This Answer Correct ? | 18 Yes | 1 No |
Answer / ami
cost of goods show production cost of product. in the cost
of goods sold opening stock, purchase and all expenses
which have been incurred related to goods will be added
thereafter closing stock will be substracted on that
amount .
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / kanika
The direct costs attributable to the production of the
goods sold by a company. This amount includes the cost of
the materials used in creating the good along with the
direct labor costs used to produce the good. It excludes
indirect expenses such as distribution costs and sales
force costs. COGS appears on the income statement and can
be deducted from revenue to calculate a company's gross
margin.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / ramesh_ca1707
Cost of Goods Sold (CGS) = opening Stock+Purchases+direct
expenses-closing stock (OR)
Sales - Gross Profit
CGS means that any cost which can be directly incurred for
the producton of it
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / mohd_ sikander
COSTOF GOOD SOLD (CGS)=
Opening stock ----------
Add; Purchases ----------
Add: Direct labour ----------
Less: Closing Stock ----------
Prime Cost ----------
Add: Op. Work in progress ----------
Less: Clo. work in progres ----------
Add: Factory overheads ----------
Factory cost -----------
Add: Admin. overheads -----------
Cost of production -----------
Add: Seling and destribuision
overheads -----------
COST OF GOODS SOLD (CGS) -----------
Profit -----------
Selling price -----------
| Is This Answer Correct ? | 4 Yes | 3 No |
Answer / kelvin
this is simply the amount of goods sold out from a paticular
company, ti is the total of opening stock + purchase +
direct expenses+ carriage inward=cost of goods available for
sale-closing stock =cost of goods sold!
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / khan
IN cost of Goods sold...! when company purchase plant for
its to run quick its operation...! this plant cost will be
included or not in purchases...! for the year...?
this is my question
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / r.jayachitra
opening stock+purchase-closing stock=cost of goods sold
| Is This Answer Correct ? | 0 Yes | 2 No |
Answer / anoj
Cost of goods sold means cost of acquiring the goods.
| Is This Answer Correct ? | 0 Yes | 2 No |
Accounting entry for credit sales and credit purchases
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