Question 14 of 30
Q.
Compute cost of goods sold from the following information.
| Particulars | ₹ | Particulars | ₹ |
|---|---|---|---|
| Opening stock | 10,000 | Indirect expenses | 5,000 |
| Purchases | 80,000 | Closing stock | 15,000 |
| Direct expenses | 7,000 |
Puducherry TnboardTamil Nadu HSC First Year (DGE) Commerce Board 2022Subjective· 2mImportance★★★★★
47% · 14/30 Questions
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Start your 14-day free trial to unlock the full solution →Cost of goods sold = ₹82,000; indirect expenses are excluded.
In the Tamil Nadu HSC Class-11 Accountancy syllabus, the cost of goods sold (COGS) is the direct cost of the goods that were actually sold during the period. The formula is:
COGS = Opening stock + Net purchases + Direct expenses − Closing stock
Computation
| Particulars | ₹ |
|---|---|
| Opening stock | 10,000 |
| Add: Purchases | 80,000 |
| Add: Direct expenses | 7,000 |
| Total | 97,000 |
| Less: Closing stock | 15,000 |
| Cost of goods sold | 82,000 |
| … |
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