Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 13 - No. 24)
What would be considered the cost of goods sold?
Only the amount of direct materials used
The amount of raw materials used in the production process
The total cost of producing the finished goods that were sold during the period
Only the cost of the finished goods available at the end of the period
Explanation
COGS is the total cost of goods sold.
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