Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 15 - No. 43)
What is the calculation for cost of goods sold (COGS)?
Beginning Inventory + Purchases - Ending Inventory
Beginning Inventory - Purchases + Ending Inventory
Ending Inventory - Beginning Inventory + Purchases
Beginning Inventory + Purchases + Ending Inventory
Explanation
COGS = Beginning Inventory + Purchases - Ending Inventory
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