How is the Cost of Goods Calculated????

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Question Posted / naveen kumar tamta

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How is the Cost of Goods Calculated????..

Answer / prasad deshmukh

1)sales - gross profit
2)opening stock + purchase - closing stock+ add direct and
indirect production , administration overhead

Is This Answer Correct ?

24 Yes

3 No

How is the Cost of Goods Calculated????..

Answer / aritra

Openig Stock+Purchase- Closing Stock=Cost of goods

Is This Answer Correct ?

11 Yes

5 No

How is the Cost of Goods Calculated????..

Answer / ankur

because the question was regarding the cost of goods and
not about the cost of goods sold.......
and thus cost of goods will include the cost incurred on
goods manufactured

Therefore,
Cost of goods is calculated by adding Direct material,
Direct Labour and DirectExpenses and all other indirect
overheads (excluding the financial cost )

but only on the goods manufactured.....

Is This Answer Correct ?

7 Yes

1 No

How is the Cost of Goods Calculated????..

Answer / prasanta

According to AS-2 based on valuation of inventories.cost of
goods can be calculated in the following way.
Purchase price of goods
Add- Frieght,Import duties
Add-Any expenditure incurred to bring the goods into the
factory.
In other words cost of goods can be calculated as-:
The cost price of the goods or Net realise value which ever
is lower will be taken into account.

Is This Answer Correct ?

4 Yes

0 No

How is the Cost of Goods Calculated????..

Answer / raj chhetri

opening stock+purchases+direct expenses-closing stock

Is This Answer Correct ?

2 Yes

0 No

How is the Cost of Goods Calculated????..

Answer / vinaykumar

opening stock add purchase of raw matirial less closing
stock add factory over heads add administration over heads

Is This Answer Correct ?

1 Yes

0 No

How is the Cost of Goods Calculated????..

Answer / rajesh

sales-gross profit=cost of goods sold

Is This Answer Correct ?

3 Yes

3 No

How is the Cost of Goods Calculated????..

Answer / nishi

Cost of Goods Sold (COGS)= Opening Stock + Purchase + Diret
Expenses - Closing Stock.
or
Cost of Goods Sold = Net sales - Gross profit

Is This Answer Correct ?

0 Yes

0 No

How is the Cost of Goods Calculated????..

Answer / harish

Cost or Net realisable value, whichever is less.

Is This Answer Correct ?

0 Yes

0 No

How is the Cost of Goods Calculated????..

Answer / viswanatha reddy

The calculation of the cost of goods sold for a
manufacturing company is: Beginning Finished Goods Inventory
+ Cost of Goods Manufactured = Finished Goods Available for
Sale - Ending Finished Goods Inventory = Cost of Goods Sold.

The formula can be rearranged to read: Cost of Goods
Manufactured +/- the change in Finished Goods Inventory =
Cost of Goods Sold. If the Finished Goods Inventory
decreased, then the amount of this decrease is added to the
Cost of Goods Manufactured. If the Finished Goods Inventory
increased, then the amount of this increase is deducted from
the Cost of Goods Manufactured

Is This Answer Correct ?

0 Yes

0 No