5. What is cost of goods sold?
Answers were Sorted based on User's Feedback
Answer / chetan vyas
Opening Stock+Purchases+Direct Expenses-closing stock.
Is This Answer Correct ? | 39 Yes | 2 No |
Answer / vinotha.v
COST OF GOODS SOLD =
opening stock + purchase (purchase - purchase return) +
direct expenses - closing stock.
(OR)
COST OF GOODS SOLD =
SALES (sales - sales return) - GROSS PROFIT.
Is This Answer Correct ? | 23 Yes | 3 No |
Answer / smita
op.stock of raw material
+purchases
-purchase returns
+carriage inward
-closing stock of raw material
+direct wages
+direct expenses
+factory overheads
+op stock of work in progress
-closing stock of work in progress
+administration overheads
+op stock of finished goods
-clo stock of finished goods
=cost of goods sold
Is This Answer Correct ? | 15 Yes | 2 No |
Answer / potenaik
cost of goods sold means the actual cost of the goods which
is sold
Is This Answer Correct ? | 10 Yes | 2 No |
Answer / ravi
opening stock + purchases + direct exp - closing stock
if opening stock&purchases not given then-
sales - g/p
Is This Answer Correct ? | 7 Yes | 0 No |
Answer / mahesh babu
cost of goods sold mean it is acctual cost of goods.
1.cost of goods = sales-gross profit.
2.cost of goods = opening stock+Net purchase+Direct exp -
Net sales.
Is This Answer Correct ? | 4 Yes | 3 No |
Answer / kuldeep pandey
Cost of goods sold=
Opening Stock+Net Purchase+Direct Exp-Net Sale-Clossing
Stock.
Net Purchase= Purchase-Purchase Return
Net Sale = Sale -Sale Return
Or
Gross Profit - Sale
Is This Answer Correct ? | 0 Yes | 0 No |
DESCIBE EXPORT PROCEDURE
expand I C W A I
what is accounting standard ?
2 Answers GE Healthcare, Virchow Biotech,
WHAT IS ABC ANALYSIS
interest paid comes under which head
13. The firm has 20,000 common shares authorized, 15,000 shares outstanding, and 3,000 shares of treasury stock. How much common equity shares are issued. a) 2,000 b) 5,000 c) 17,000 d) 18,000
8 Answers Capital IQ, FactSet Systems,
what is p/l appropriation a/c?
What is securities market?
16 Answers Capital IQ, JKG Securities,
If you get excess of cash Rs. 2000/- than what actually CashA/c shows. As an account what do U do?
What are direct and indirect expenses
Q5 Prepare a Balance sheet from the following particulars: Gross profit =Rs.80,000 Gross profit to cost of goods sold =1/3 Stock velocity =6 times Opening stock =Rs.36,000 Accounts receivable velocity =72 days (year=360 days) Current assets=Rs.1,50,000 Account payable velocity=90 days Bills receivable =Rs.20,000 Bills payable=Rs.5,000 Fixed assets turnover ratio (on cost of goods sod)=8 times
what is contigent liabilities? whats it status in balance sheet?
0 Answers Accenture, Capital IQ, Thomson Reuters,