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  • May 28, 2007, 07:51 PM
    flossy
    Accounting
    When I am calculating for net sales, does COGS have anything to do with? Or do I just minus Sales/returns & discounts from my total sales? Sales-Sales ret&dis= net sales?
  • May 28, 2007, 07:52 PM
    TJF
    Quote:
    Originally Posted by flossy
    When I am calculating for net sales, does COGS have anything to do with? Or do I just minus Sales/returns & discounts from my total sales? Sales-Sales ret&dis= net sales?
    You do not use cogs until you are calculating profit. So your formula is correct.
  • May 29, 2007, 07:24 PM
    pree007
    No use of cogs while calculating net sales just deduct sales returns & trade discounts
  • May 30, 2007, 12:35 AM
    pamir
    Answar these question how can I poss the entry to the jornal?

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