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    Question

    Opening inventory Rs. 1,700/-, Purchases Rs. 27,000/-,

    Closing inventory Rs. 1,500. Cost of goods sold will be            
    A 27000 Correct Answer Incorrect Answer
    B 28700 Correct Answer Incorrect Answer
    C 30400 Correct Answer Incorrect Answer
    D 27200 Correct Answer Incorrect Answer

    Solution

    Cost of goods sold (COGS) = Opening Inventory + Purchases – Closing Inventory Here cost of goods sold = 1700 + 27000 – 1500 = Rs. 27,200/-  

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