From the following data, find the Cost of Goods Sold (COGS) Given Data:…
2019
From the following data, find the Cost of Goods Sold (COGS) Given Data: (Opening Stock) = ₹67,000 (Closing Stock) = ₹51,000 (Purchases) = ₹1,02,000 (Carriage Inward) = ₹3,000
- A.
1,21,000
- B.
1,12,000
- C.
92,000
- D.
1,22,000
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Show answer & explanation
Correct answer: A
Formula: COGS=Opening Stock+Purchases+Carriage Inward−Closing Stock Calculation: = 67,000 + 1,02,000 + 3,000 − 51,000 = 1,21,000 So, Cost of Goods Sold = ₹1,21,000