Question

Which of the following is incorrect? The cost of sales is:

• A. sales – return inwards – Closing inventory – gross profit
• B. opening inventory + purchases + carriage inwards – closing inventory
• C. opening inventory + purchases + carriage outwards – closing inventory
• D. opening inventory + purchases – closing inventory

Answer 1

The correct option is C

opening inventory + purchases + carriage outwards – closing inventory

Opening inventory + purchases + carriage outwards – closing inventory.