How is the Cost of Goods Calculated????

Answer Posted / 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



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

WHY LOSS IN BUSINESS IS SHOWN IN ASSETS SIDE OF BALANCE SHEET? WHY EXCISE DUTY IS DEDUCTED FROM THE GROSS SALES TO ARRIVE NET SALES? WHY SALES TAX IS NOT DEDUCTED FROM SALES TO ARRIVE NET SALES?

2041


what is the procedure of interview question in genpact

1783


legal accounting methods to reduce profit of a partnership firm so as to reduce the tax liability?

2650


how can i make transaction related to inflation account in sap ?

1582


fill in the Blanks Share Holders in Company have _____________Liability

1548






While selling fertilisers can we charge VAT on excise duty.

1589


Expand--------SRTA

1528


I have a existing Oracle applicttions and need to bring one of the new business on it. The new business will use GL, AP and FA. We will use existing COA. This business will have 3 sets of books (1- tax book, from April to March; 2- Primary book, from July to June; 3- Reporting book, from July to June); All books will have same currency; HOW DO I TRANSFER DATA FROM PRIMARY BOOK INTO TAX AND REPORTING BOOKS EVERY MONTH OR ON WEEKLY? IS THERE ANY STANDARD ORACLE PROCESS WHICH CAN BE SCHEDULED? THE REPORTING BOOK WILL HAVE DIFFERENT DEPRECIATION METHOD SO HOW DO I NOT TRANSFER DEPRECIATION FROM PRIMARY TO REPORTING BOOK AND DO SEPERATE DEPRECIATION IN REPORTING BOOK FOR THE SAME ASSET THAT IS ALSO IN PRIMARY AND TAX BOOK?. HOW DO I APPROACH ON SETTING THESE NEW SETS OF BOOKS? Thanks, KK

1629


Which Invoice issued on Central Sale Commercial or Retail?

1588


WhatIs the limit of duty exemption in smal scale industries.

1726


what happens to each of the three primary financial statements when capital expenditures decrease?

1586


OUR BOOKS & ITR MISMATCH FOR RS.15000/- ON ACCOUNTS OF TDS ON RECIEPTS FY-09-10 . KINDY GIVE CORRECTION ENTRY TO MATCH THE BOOKS WITHI ITR. DEVENDRASINGH086@GMAIL.COM

1548


what is ZBA hold & balance hold in banking?

1820


sir, i am working recruitment con.pvt ltd inthat one person salary will pay per month Rs.28000/- so i want to enter in our books only one salary payment or basic pay and spl.aa and others like this break up entrys we will pass please suggest

1822


what is Calculation of Gross Profit Or Gross Loss?

1757