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?
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?
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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