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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sales less gross profit

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purchases plus closing stock less opening stock

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Solution

The correct option is B sales less gross profit
Assuming no returns outwards or carriage inwards, the cost of goods sold will be equal to Sales less gross profit. Goods are sold at cost plus profit. So. sales less gross profit represents the cost of goods sold.

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

The correct option is B sales less gross profitAssuming no returns outwards or carriage inwards, the cost of goods sold will be equal to Sales less gross profit. Goods are sold at cost plus profit. So. sales less gross profit represents the cost of goods sold.

The correct option is B sales less gross profit
Assuming no returns outwards or carriage inwards, the cost of goods sold will be equal to Sales less gross profit. Goods are sold at cost plus profit. So. sales less gross profit represents the cost of goods sold.