Assume cash paid to suppliers for the current year is $350 000, merchandise inventory increased by $5000 during the year, and accounts payable decreased by $10000 during the year. What was the cost of goods sold for the current year? Please show the calculation

I have a trucking business where I hire myself out to other carriers. Want to Know if the gas I use to perform this service for other carriers would be charged to Fuel Expense or does it go to COGS?

Hi I am having trouble with this Question So first it asked to find Cogs of a company which I found now it wants me to find calculate COGS as a percentage of sales. (COGS I calculated equaled to $10000. Any help will be grateful

I kind of understand how to calculate COGS. However, I don't understand how to calculate it when nothing is being created for sale. When providing a service there is nothing that we need to make to service our patients. There are no material unless this would mean the material such as needles,...

I need your help on the following question I can not seem to get this: Beginning Inventroy: 1,000 units @$10 per unit Purchases: 3,000 units @$12 per unit Sales: 3,500 units @$16 per unit Ending Inventory: 500 units Compute both the ending inventroy value and cost of goods sold using each of...