Question

The cost of goods sold is equal to
Total Purchases - Total Sales
Opening Stock + Net Purchases + Closing Stock + Direct Expenses
Opening Stock + Total Purchases
O
Opening Stock + Net Purchases - Closing Stock + Direct Expenses​

Answer 1

Answer:

Cost of goods sold is the direct cost attributable to the goods which is sold by the organization.

Cost of goods sold may be calculated as under:

Opening stock  

Add: Purchases (net of returns)

Add: Direct expenses

Less: Closing stock