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    Question

    Opening inventory ₹20 lakh, purchases ₹80 lakh,

    closing inventory ₹30 lakh. What is cost of goods sold?
    A ₹85 lakh Correct Answer Incorrect Answer
    B ₹100 lakh Correct Answer Incorrect Answer
    C ₹80 lakh Correct Answer Incorrect Answer
    D ₹70 lakh Correct Answer Incorrect Answer
    E ₹90 lakh Correct Answer Incorrect Answer

    Solution

    COGS = Opening + Purchases - Closing = ₹20 + ₹80 - ₹30 = ₹70 lakh

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