Cost of Sales Formula?

by Fahad
(KSA)

What is the cost of sales formula?

Comments for Cost of Sales Formula?

Click here to add your own comments

Inventory
by: Anonymous

Hi I want to ask about the following:

Inventory(1 March20.2) - 170000
sales-550000
purchases -350000
sales returns -1200
purchases returns - 2000
closing inventory -160500

What is the cost of sales figure?


answer
by: waqas

CGS = opening inv + purchases - closing inv

Cost of sales formula
by: Patrick

Purchases X
Add closing stock(inventory) X

X
Less opening inventory(stock) (X)

Cost of sales X

Click here to add your own comments

Return to Ask a Question About This Lesson!.

Search this site:


All the lessons on this site and much, much more...

Our Official Book (click for more details)

Buy It Now On

Subscribe to
The Student Accountant newsletter

Enter Your E-mail Address
Enter Your First Name (optional)
Then

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you The Student Accountant.