Question

What is the formula of calculating cost of good sold?

Answer 1

Formula of calculating value of good sold is

value of good sold = market price - net indirect tax

Answer 2

Formula

Explanation:

Sales always include Cost of Goods Sold and profit, if we subtract gross profit from sales we get Cost of goods sold

So,  

Sales = Cost of goods Sold + Gross profit

Cost of goods sold = Sales - gross profit

Another term to find Cost of goods Sold:

Cost of goods sold = Opening stock + purchase - closing stock

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