Which of the following formulae would determine cost of goods sold in a manufacturing entity?
A) Beginning inventory + Ending inventory - Cost of goods manufactured
B) Cost of goods manufactured + Ending inventory + Beginning inventory
C) Beginning inventory - Ending inventory - Cost of goods manufactured.
D) Cost of goods manufactured - Ending inventory + Beginning inventory
E) Ending inventory - Beginning inventory - Cost of goods manufactured

Question

Quizplus · Accepted Answer

The cost of goods sold (COGS) is calculated as the cost of goods manufactured plus the beginning inventory minus the ending inventory.

Which of the Following Formulae Would Determine Cost of Goods