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Question

# 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:

A

Rs. 5,015

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B

Rs. 4,295

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C

Rs. 4,445

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D

Rs. 4,745

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Solution

## The correct option is B Rs. 4,295 COGS = Opening stock + Net Purchases + Direct Expenses - Closing Stock = Rs. 935 + (Rs. 4,500 - Rs. 300) + Rs. 260 - Rs. 1,100 = Rs. 4,295

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