lgarcia13
Mar 16, 2010, 04:45 PM
How do you get the Cost of Goods Sold for a condensed income statement?
 
I can't seem to understand it.
ROLCAM
Mar 16, 2010, 06:05 PM
Very simple concept.
 
You start with the OPENING BALANCE of STOCK, you add the PURCHASES and you subtract 
The CLOSING BALANCE of STOCK.
lgarcia13
Mar 16, 2010, 10:57 PM
Very simple concept.
 
You start with the OPENING BALANCE of STOCK, you add the PURCHASES and you subtract 
the CLOSING BALANCE of STOCK.
 
Thanks so much!