How to calculate cost of goods sold in financial accounting?
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cost of good sold has 3 formulas
1 cost of goods sold=opening stock+ net purchases+ direct expenses- closing stock
2 cost of goods sold=net sales- gross profit
3 cost of goods sold=net sales+ gross loss
1 cost of goods sold=opening stock+ net purchases+ direct expenses- closing stock
2 cost of goods sold=net sales- gross profit
3 cost of goods sold=net sales+ gross loss
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