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Question
`How is the Cost of Goods Calculated????`
Question Submitted By :: Naveen Kumar Tamta
I also faced this Question!!     Rank Answer Posted By

Re: How is the Cost of Goods Calculated????
# 1
cost or market price which ever is lower.
 Is This Answer Correct ? 2 Yes 19 No
Krksarma

Re: How is the Cost of Goods Calculated????
# 2
1)sales - gross profit
2)opening stock + purchase - closing stock+ add direct and

 Is This Answer Correct ? 19 Yes 3 No

Re: How is the Cost of Goods Calculated????
# 3
Openig Stock+Purchase- Closing Stock=Cost of goods
 Is This Answer Correct ? 10 Yes 4 No
Aritra

Re: How is the Cost of Goods Calculated????
# 4
Just to find out the cost of goods sold the formula =
opening stock + purchase - closing stock.
In economic point of view the cost is determined by using
the concepts like fixed cost , variable cost and marginal
cost.

 Is This Answer Correct ? 1 Yes 2 No
Manju

Re: How is the Cost of Goods Calculated????
# 5
sales-gross profit=cost of goods sold
 Is This Answer Correct ? 3 Yes 2 No
Rajesh

Re: How is the Cost of Goods Calculated????
# 6
OPENING STOCK+PURCHASES-CLOSING STOCK
 Is This Answer Correct ? 3 Yes 3 No
Guest

Re: How is the Cost of Goods Calculated????
# 7
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 ? 4 Yes 1 No
Ankur

Re: How is the Cost of Goods Calculated????
# 8
According to AS-2 based on valuation of inventories.cost of
goods can be calculated in the following way.
Purchase price of goods
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
Prasanta

Re: How is the Cost of Goods Calculated????
# 9
opening stock add purchase of raw matirial less closing

 Is This Answer Correct ? 1 Yes 0 No
Vinaykumar

Re: How is the Cost of Goods Calculated????
# 10
opening stock+purchases+direct expenses-closing stock
 Is This Answer Correct ? 2 Yes 0 No
Raj Chhetri

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