Cost of goods sold is equal to

Question

Quizplus · Accepted Answer

The cost of goods sold is the cost associated with producing or purchasing the goods that are sold during a period. This cost includes the cost of the inventory on hand at the beginning of the period (which was not sold during the period), plus the cost of any additional inventory purchased during the period (net purchases), minus the cost of inventory that remains on hand at the end of the period. Therefore, the correct formula for calculating cost of goods sold is: Beginning Inventory + Net Purchases - Ending Inventory = Cost of Goods Sold.

Cost of Goods Sold Is Equal to