Cost of Goods Sold

Cost of goods sold (COGS) denotes the carrying value of goods and raw materials sold to customers during specific period.

Calculator of Cost of Goods Sold

Select Currency =
Beginning inventory =
Purchases =
Ending inventory =
 
COGS =

Formula of Cost of Goods Sold

Cost of goods sold = Beginning inventory + Purchases – Ending inventory

Example of Cost of Goods Sold

Beginning inventory of a company was $16000 and the company purchased new inventory for the cost of $5000. Ending inventory of the company was $10000.Calculate the cost of goods sold in a year.

Given:

Beginning inventory = $16000
Purchases = $5000
Ending inventory = $10000

To Find Cost of goods sold

Solution:

COGS = Beginning inventory + Purchases – Ending inventory
= 16000 + 5000 – 10000
= 21000 – 10000
= $11000

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Tariq

Tariq

How to account for free materials received and free utilities for which am not paying due to government subsidy

Patrick Barnes

Patrick Barnes

Good formatting 👍🏿

Tyrone

Tyrone

To simple.. let’s see a real heavy duty COGSC