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bijoux company has sales of $40,000, beginning inventory of $5,000, purchases of $25,000, and ending inventory of $7,000. the cost of goods sold is

Sagot :

The cost of go-ods sold is $23,000.

Solution -

Given : Sales - $40,000

Beginning inventory - $5,000

Purchases - $25,000

Ending inventory - $7,000

To find - Cost of goods sold.

Costs of goods sold = beginning inventory + purchases − ending inventory.

Costs of goods sold = $5,000 + $25,000 - $7,000

= $23,000

Hence, Costs of goods sold is $23,000.

The cost of go-ods sold (COGS) is the sum of all direct cost assoc-iated with making a product. It app-ears on an income state-ment and typically incl-udes money spent on raw mate-rials and labor. It does not inc-lude cost associated with market-ing, sales or distri-bution.

To know more about costs of goods sold click below:

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