Opening stock + + Direct Expenses (Carriage on Raw material) - Closing Stock = ____.

Sales, Purchases

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Sales, Sales return

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Purchases, Cost of goods produced

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Purchases, Cost of goods sold

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Solution

The correct option is B Purchases, Cost of goods produced
Cost of goods sold is a direct cost attributable to the goods actually sold by the firm. Cost of goods sold can be calculated as:

Opening Stock
Add: Purchases
Add: Direct Expenses
Less: Closing Stock
------------
Cost of goods sold
--------------

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Similar questions

Calculate closing stock and cost of goods sold. Opening stock Rs. 5,000 ; sales Rs. 16,000; carriage inwards Rs. 1,000, sales return Rs. 1,000; gross profit Rs. 6,000; purchases Rs. 10,000; purchases return Rs. 900.

Q. From the following information, prepare the Trading Account for the year ended 31st March, 2017:

	₹
Cost of Goods Sold	12,10,000
Opening Stock	50,000
Closing Stock	80,000
Carriage Inwards	15,000
Sales	15,00,000

Q. In case the opening stock was Rs. 5,000, purchases Rs.15,000, direct expenses Rs.2,000 and closing stock Rs. 2500, the cost of goods sold had been _______________.

Q. From the given information, find the correct amount of purchases.

Cost of goods sold	$R s . 1, 20, 000$
Carriage inwards	$R s . 1, 890$
Opening stock	$R s . 43, 640$
Closing stock	$R s . 38, 500$
Purchase returns	$R s . 2, 150$
Sales	$R s . 2, 82, 650$

Q. From the following particulars, ascertain the value of Opening Stock:-

	₹		₹
Purchases	60,000	Wages	3,000
Sales	1,05,000	Carriage Outwards	1,200
Closing Stock	20,000	Rate of Gross Profit on cost of goods sold	50%

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Opening stock + ______ + Direct Expenses (Carriage on Raw material) - Closing Stock = __________.

The correct option is B Purchases, Cost of goods producedCost of goods sold is a direct cost attributable to the goods actually sold by the firm. Cost of goods sold can be calculated as:Opening StockAdd: PurchasesAdd: Direct ExpensesLess: Closing Stock ------------Cost of goods sold --------------

Opening stock + + Direct Expenses (Carriage on Raw material) - Closing Stock = ____.