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    flossy's Avatar
    flossy Posts: 1, Reputation: 1
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    #1

    May 28, 2007, 07:51 PM
    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?
    TJF's Avatar
    TJF Posts: 2, Reputation: 1
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    #2

    May 28, 2007, 07:52 PM
    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.
    pree007's Avatar
    pree007 Posts: 14, Reputation: 1
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    #3

    May 29, 2007, 07:24 PM
    No use of cogs while calculating net sales just deduct sales returns & trade discounts
    pamir's Avatar
    pamir Posts: 1, Reputation: 1
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    #4

    May 30, 2007, 12:35 AM
    Answar these question how can I poss the entry to the jornal?
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