what is cost of goods sold?
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Answer / satheesh sivarajan
Cost of Good Sold = (Opening Stock + Purchases + Direct
Expenses) - (Closing Stock + Direct Incomes)
| Is This Answer Correct ? | 14 Yes | 7 No |
Where the cost of expenditure incurred for the production
of product from the stage of conversion of raw material to
finished product. where cost of goods can be state as :
COGS=Opening stock+purchases+manufacturing expenses/direct
expenses-Closing stock
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / prasanna11149@yahoo.co.in
The direct costs attributable to the production of the
goods sold by a company. This amount includes the cost of
the materials used in creating the good along with the
direct labor costs used to produce the good. It excludes
indirect expenses such as distribution costs and sales
force costs. COGS appears on the income statement and can
be deducted from revenue to calculate a company's gross
margin.
Also referred to as "cost of sales".
Price of buying or making an item that is sold; also called
cost of goods sold. The difference between sales and cost
of sales is gross profit. For a retail business, the cost
of sale is the purchase price of the item. For a
manufactured good, the cost of sale includes Direct
Material, Direct Labor, and Factory Overhead associated
with producing it. An example would be the cost to General
Motors of making a car. An illustrative example of a gross
profit calculation for a retail business follows:
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / rishikesh-- singhrishikesh3@gm
cost of goods sold = (opening stock + purcheses + direct
expenses)-(closing stock+direct income)
but in general terms we can say
COGS=all direct cost related to production of the good sold
by company, It excludes
indirect expenses such as distribution costs and sales
force costs. COGS appears on the income statement and can
be deducted from revenue to calculate a company's gross
margin.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / sunil
Cost of Good Sold = Opening Stock + Net Purchases + Direct
Expenses - Closing Stock
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / mahesh
Cost of goods sold = (sales - (Opening
balance+Purchases+direct exp ))
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / rishikesh (imrt business schoo
RISHIKESH (IMRT BUSINESS SCHOOL)
Where the cost of expenditure incurred for the production
of product from the stage of conversion of raw material to
finished product. where cost of goods can be state as :
COGS=Opening stock+purchases+manufacturing expenses/direct
expenses-Closing stock
IN FORMULA BASED..
Cost of Good Sold = (Opening Stock + Purchases + Direct
Expenses) - (Closing Stock + Direct Incomes)
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / varun
cost of good sold means in simple terms all expenses or
cost attributed to a particular product.Cost of good sold
includes direct cost,over head exp. & all selling and
administrative exp. if percentage of profit is added in to
it .Then it becomes the selling price.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / rajesh
Cost of goods sold is usually the largest expense on the
income statement of a company selling products or goods.
Cost of Goods Sold is a general ledger account under the
perpetual inventory system.
Under the periodic inventory system there will not be an
account entitled Cost of Goods Sold. Instead, the cost of
goods sold is computed as follows: cost of beginning
inventory + cost of goods purchased (net of any returns or
allowances) + freight-in - cost of ending inventory.
This account or this calculation matches the cost of the
goods sold with the sales.
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / madhulika2011
COST OF GOODS SOLD= OP.STOCK+ PURCHASE+ DIRECT EXP.-CL.STOCK
| Is This Answer Correct ? | 0 Yes | 0 No |
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