define cost of goods sold

Answer Posted / 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



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

what are the models of valuation of the company

1558


.,can someone tell me how to compute the subscribed capital share?

1836


What is the rule on a school who will be handled by anither school? How do I calculate the royalty per year to the school who will supervise a new school

1558


Is TDS applicable to Voice Over IP(VOIP) service to an India VOIP service provider? please provide the related acts and case studies.

1789


Feature of Master letter of credit of Garments manufacturing company?

1460






what are micro-cap, small-cap, mid-cap, large-cap companies?

1781


Whether setting up of diary plants comes under CMA under Farm Sector or Non Farm Sector

1309


how to work on CMA form in manufacturing compay as well as how to analysis working capital ?

1518


From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.

2566


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

1587


Please send the clerical exam questions and answers to my mail Id pinky18.02.1985@gmail.com

1805


In IGATE, 2 yrs bond for fresher and reverent experience 1 year bond. First z essay writing. “Unforgettable movement ur life” Tiz in ITPL IGATE stopping

5542


What are the objectives of accounting

1493


What is the difference between reserve and provision.

1822


Take me through the entire vendor cycle.

1523