The opening stock of a company is `60,000 and the closing stock is `70,000. If the purchases during the year are `2,00,000 the cost of goods sold will be

Name: The opening stock of a company is `60,000 and the closing stock is `70,000. If the purchases during the year are `2,00,000 the cost of goods sold will be
Brand: Quizplus
Rating: 4.8 (58 reviews)

Question

Quizplus · Accepted Answer

The cost of goods sold (COGS) is calculated as: Opening Stock + Purchases - Closing Stock. Therefore, COGS = 60,000 + 2,00,000 - 70,000 = 1,90,000.

The Opening Stock of a Company Is `60,000 and the Closing