Question

equation of cost of goods sold​

Answer 1

Answer:

To find the cost of goods sold during an accounting period, use the COGS formula:

COGS = Beginning Inventory + Purchases During the Period – Ending Inventory.

Gross Income = Gross Revenue – COGS.

Net Income = Revenue – COGS – Expenses.

Step-by-step explanation:

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Answer 2

Answer:

Is this:

Explication:

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*Look at this:

The cost of goods purchased includes the beginning inventory as previously valued plus purchases. The cost of goods sold is then the beginning inventory plus purchases less the calculated cost of goods on hand at the end of the period.

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