Ask Experts Questions for FREE Help !
Ask
    schellie's Avatar
    schellie Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Dec 3, 2009, 10:20 PM
    Net sales vs cost of goods sold
    Is the cost of goods sold the same as net sales? I am practicing the gross profit method for estimating inventory
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Dec 4, 2009, 11:31 AM

    No, net sales is gross sales less sales returns and sales discounts.

    Cost of goods sold is cost of your inventory that has been sold.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Schedule Cost of goods manufactured and cost of goods sold [ 10 Answers ]

I am taking my first class in Accounting and I am having difficulties with my homework. I have the following problem, that I have done in several ways and I always get an answer that is greater that the correct one. These are the figures (in thousands of dollars): Direct Labor Cost: $10,500...

Assuming Vulcan uses a FIFO cost flow method, the cost of goods sold for the sales tr [ 2 Answers ]

A. $ 840 b. $ 920 c. $ 860 d. $ 880

Percent of cost of goods sold to Company sales [ 1 Answers ]

How do you compute the cost of goods sold to company sales for the year 20?2 to 20?3 and tell if the trend is favorable?

Net sales-cost of goods sold= [ 2 Answers ]

What is the net sales minus cost of goods sold?

View more questions Search