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-   -   How to calculate cost of goods sold (https://www.askmehelpdesk.com/showthread.php?t=812416)

  • May 31, 2015, 04:11 PM
    carma99
    How to calculate cost of goods sold
    if:
    Inventory 1st January = $19,400
    Inventory 31st December = $26,660
    Sales for the year = $155,880

    who do you calculate the cost of goods sold?
  • Jun 1, 2015, 03:37 PM
    jerileycpa
    Cost of goods sold is calculated as follows:

    Beginning inventory + purchases - ending inventory = COGS

    Your sales for the year is not a factor.

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