what is Cost of Goods Sold give example?

Answers were Sorted based on User's Feedback

what is Cost of Goods Sold give example?..

Answer / venu gopal joshi

Opening stock + purchases - Closing stock = cost of goods sold.

Is This Answer Correct ?    7 Yes 0 No

what is Cost of Goods Sold give example?..

Answer / h.r. sreepada bhagi

For a Trading Company :
Product X purchase 1000 qty. @Rs.15/- =Rs.15000/-
Stock at the end of the month / year =Rs. 9000/-(900 units)
Cost of goods sold (COGS) = Rs. 6000/- (For 600 units)

For a Manufacturing Company :-
Material Y purchase 1000 qty., @Rs.20/- =Rs.20000/-
Material Z purchase 1500 qty., @Rs.10/- =Rs.15000/-
Production Overhead =Rs.10000/-
Total Cost of Product X manufactured =Rs.45000/-(500 qty.)
Closing Stock of Product X (200 units) =Rs.18000/-
Cost of Goods Sold (COGS Product X) =Rs.27000/- (300 qty.)

the above are only examples and it should be calculated as
per the policies and methods applicable in the company

Is This Answer Correct ?    6 Yes 1 No

what is Cost of Goods Sold give example?..

Answer / a.lokesh

cost of goods sold means raw material purchase and material purchase

Is This Answer Correct ?    0 Yes 5 No

Post New Answer

More Accounting General Interview Questions

how we mainatin account for a construction company or firm

1 Answers  

what is the use preparing balance sheet

5 Answers   Nestle,

please tell me the 'R2R' interview questions and answers ?

1 Answers   Accenture, Dr Reddys,

Allowances means-mobile, trawling is direct exp or indirect exps

1 Answers   KCH,

If you are a well experienced accounting personal and you apply for a job, what is that you will look in a firm before joining as the market is recession hit.

2 Answers   DELL,

1- Can ledger make without journal?

1 Answers  

What is corporate assesses?

0 Answers   Genpact,

how we will make the invoice agt the material sold to other party with the VAT adjustment. Also please pass the journal entry of all process.

1 Answers   Hitachi,

what are the entries for staff taken advance in tally? what are the ledgers to be created for this and under which group? and what are the voucher entries when the advance is refunded?

1 Answers  

what is TDS..? and Entry for TDS..?

7 Answers   Genpact,

What is the general entry for charge on bank overdraft

0 Answers  

Discount payble and reciveble entries what type of vochars entry pleas tell...............

1 Answers