Question
Opening inventory Rs. 1,700/-, Purchases Rs. 27,000/-,
Closing inventory Rs. 1,500. Cost of goods sold will be           ÂSolution
Cost of goods sold (COGS) = Opening Inventory + Purchases – Closing Inventory Here cost of goods sold = 1700 + 27000 – 1500 = Rs. 27,200/- Â
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