Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 15 - No. 25)
What costs make up the cost of goods sold (COGS)?
Beginning Inventory + Purchases - Ending Inventory
Beginning Inventory - Purchases + Ending Inventory
Beginning Inventory + Purchases + Ending Inventory
Purchases
Explanation
COGS includes the cost of goods available for sale (Beginning Inventory + Purchases) less the ending inventory.
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