Accountıng I Deneme Sınavı Sorusu #1313793

Which of the following describes the formula to calculate the cost of goods (COGS) sold during the period?


COGS = Beginning Inventory + Expenses – Ending Inventory

COGS = Beginning Inventory + Purchases – Ending Inventory

COGS = Beginning Inventory + Purchases + Ending Inventory

COGS = Beginning Inventory + Ending Inventory - Purchases

COGS = Beginning Inventory + Ending Inventory - Expenses


Yanıt Açıklaması:

At the end of a period, companies take a physical count of inventories to determine the amount of ending inventories and considering the balances of beginning inventory, total purchases and ending inventory, companies calculate the cost of goods sold during the period. The formula that is used to calculate COGS is: COGS = Beginning Inventory + Purchases – Ending Inventory

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