Accounting for IGCSE & O level - Final Statements (Section 9 - No. 29)
If a company has an opening inventory of $10,000, purchases of $30,000, and a closing inventory of $5,000, what is the cost of goods sold?
$25,000
$35,000
$45,000
$15,000
Paaiškinimas
COGS = Opening Inventory + Purchases - Closing Inventory = $10,000 + $30,000 - $5,000 = $35,000.