Assuming no returns outwards or carriage inwards, the cost of goods sold will be equal to:

Opening stock plus purchases plus closing stock

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Closing stock less purchases plus opening stock

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Purchases plus closing stock less opening stock

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Sales less gross profit

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Solution

The correct option is D
Sales less gross profit

Assuming no returns outwards or carriage inwards, the cost of goods sold will be equal to Sales Less Gross Profit.

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Similar questions

Q. Assuming no returns outwards or carriage inwards, the cost of goods sold will be equal to _______.

Given the following data: Purchases Rs. 4,500, Returns outwards Rs. 300, Returns inwards Rs. 150, Carriage outwards Rs. 830, Carriage inwards Rs. 260, Opening stock Rs. 935, and closing stock Rs. 1,100. The value of the cost of goods sold is:

Q. Sales - Rs.

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. The cost of goods sold is:

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Q. Given the following data extracted from the book of Abdul traders.
Opening stock - Rs. 30,000
Closing stock - Rs.40,000
Purchases- Rs.1,25,000
Carriage inwards-Rs.2,000
Carriage outwards- Rs.3,000
Return outwards- Rs.5,000
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The cost of goods sold will be ____________.

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Assuming no returns outwards or carriage inwards, the cost of goods sold will be equal to:

The correct option is D Sales less gross profit Assuming no returns outwards or carriage inwards, the cost of goods sold will be equal to Sales Less Gross Profit.

The correct option is D
Sales less gross profit

Assuming no returns outwards or carriage inwards, the cost of goods sold will be equal to Sales Less Gross Profit.