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      Question

      The formula for Cost of Goods Sold (COGS) in accounting

      is correctly represented as:
      A Opening Stock + Purchases - Closing Stock Correct Answer Incorrect Answer
      B Total Revenue - Gross Profit Correct Answer Incorrect Answer
      C Operating Profit - Fixed Expenses Correct Answer Incorrect Answer
      D Opening Stock + Closing Stock - Purchases Correct Answer Incorrect Answer
      E Net Sales - Depreciation Expenses Correct Answer Incorrect Answer

      Solution

      Revenue – COGS = Gross profit As such, in the above options, B correctly states the COGS.

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