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Question
Answer in one sentence only.
State the formula of Cost of goods sold?
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Solution
Cost of goods sold = Opening stock + Purchase – Purchase return + Direct expense – Closing stock
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|
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|
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Cr. | |
| Particulars | Amount (₹) |
Particulars | Amount (₹) |
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| To Purchases | 4,50,000 | By Closing Stock | 1,50,000 |
| To Carriage | 20,000 | ||
| To Direct expenses | 30,000 | ||
| To Wages | 50,000 | ||
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