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Cost of Sales Formula?
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What is the cost of sales formula?
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A: The cost of sales formula is:
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Please see the lesson on Sales, Cost of Goods Sold and Gross Profit for more information and explanations on this topic. Best, Michael Celender
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Click here to add your own comments cost of sales by: Anonymous Is freight included in the computation of cost of sales? ex: Beg.Inventory Purchases Freight in Transportation to consignees Freight out Ending inventory what is the formula to get the cost of sales?
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Gross profit by: Anonymous ABC investment carries an average inventory of R40 000. Its inventory turnover ratio is 8 times. If it sells goods at a profit of 20% on Revenue from operations what is the gross profit?
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How do u calculate cost of sales by: Anonymous
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How do you calculate the cost of sales if the information is as follows:
Step 1 of 4
Opening inventory Sales Purchase returns Carriage on purchases Carriage on sales Purchases CLOSING INVENTORY
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How to calculate Cost of Sales if: Sales is 900 and marked up by 100% on the cost price?
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Budgeted Sales are as follows: Month July 105,000 August 9,200 September 130,000 October 150,000
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Sales expect to occur evenly during each month. Management policy is to hold sufficient inventory at month end to meet sales demand in the next half month. Creditors are paid in the month following the purchase.
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Cost of Sales by: Anonymous
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How to compute Cost of Sales if my sales is 141,000 and Purchases 55,000?
help by: Anonymous Levin Furniture buys a living room set with a $4,000 list price and a 55% trade discount. Freight (Freight on Board shipping point) of $50 is not part of the list price. What is the delivered price (including freight) of the living room set, assuming a cash discount of 2/10, n/30, ROG? The invoice had an April 8 date. Levin received the goods on April 19 and paid the invoice on April 25.
Formula for Cost of Sales by: Anonymous To calculate the cost of sales : Sales x 100/100 + markup % eg. 500 x 100/160 500 : sales 160 : 100 + mark up %. markup % is 60%
Cost of Sales & Mark-Up Calculation by: Colin I was given the sale amount and was asked to calculate the cost of sales if all goods were marked up by 60%. Sale amount was 24,400.... Mark-up is the increase based on cost of goods so answer is: 24,400 X 100/160 = 15,250 Sales is 160 here as cost + mark-up = sales (100 + 60 = 160) Cost is 100 as mark-up is based on cost so cost is the subject of our equation, meaning the 100% portion of the equation. Or to put it another way, the 60% markup is based on 100% cost - mark-up is 60/100 of the cost. Best, Michael Celender
Cost of sale by: Azima I confuse about this please help. Bora was grateful for the balance sheets that his friend prepared. In going over the numbers, he remarked, "it's sort of surprising that cash increased by 31,677USD, but net income was only 19,635USD, why was that?" His friend replied,"A partial to that question is to look at an income statement for june. I think I can find the data I need prepare one for you." In addition to the data given in the case, his friend found a record of cash receipts and disbursements, which is summarized in Ex1. He also learned that all A/P were to vendors for purchase of merchandise inventory and that cost of sale was 39,345USD, in June. Exhibit1 Cash receipts and Disbursements month of June Cash receipts Cash sale $44,420 Credit Customer 21,798 Bora 11,700 Bank Loan 20,865 Total Receipt 98,783$ Cash disbursements Equipment Purchase $23,400 Other Asset Purcahse 408 Payment on A/P 8,517 Cash purchase of Merchandise 14,715 Cash purchase of Supplies 1,671 Dividend 11,700 Wages Paid 5,660 Utilities Paid 900 Miscellaneous payment 135 Total $67,106 Reconciliation: Cash Bal, June 1 $34,983 Receipts 98,783 Sub total 133,766 Disbursement 67,106 Cash Bal, June 30 $66,660 Question: 1. Prepare all income statement for june in proper format. explain the derivation of each item on this statement, including cost of sales. 2. Explain why the change in the cash balance was greater than the net income. 3. Explain why the following amount are incorrect cost of sale amount for june: a.$14,715 and b.$36,030. Under what circumstances would thes amount be correct cost of sale amounts?
How to calculate the cost of sale by: Anonymous If you were given just cost of sales, how do we calculate the cost of sale?
Journal Exercise by: Mthandeni Hi please help by journalising the following: 1. The business thus went ahead in obtaining a loan of R150,000. Interest of 11% for the year is still owing at year end. 2. A business purchased stock to the value of R12,000, R10,000 of which was sold. The business sold this stock for R25,000. The business uses the perpetual stock system. The cost of sales entry was not recorded in the business records in the month the stock was sold. 3. Stock purchased for R30,000 was recorded against the`purchases' account, and valued at R25,000 in closing stock at year-end. The difference of R5,000 was taken to the 'stock written down' account. However, upon discussion between managers it was agreed that the treatment of this valuation was not the same as the method of valuation used the prior year, and the difference had to be reversed.
Cost of Sales Formula by: Anonymous Cost of Sales = Opening Inventory + Purchases Closing Inventory
Cost of Sales and Gross Profit by: Anonymous Please help with calculating cost of sales and gross profit: Inventory (1 March 2013) - 100,000 sales - 150,000 purchases - 80,000 sales returns - 1,200 purchases returns - 2000, freight charges on purchases - 650 freight charges on sales - 1700 settlement discount granted - 350 closing inventory - 400,000 What is the cost of sales figure and gross profit?
Cost of Sales and Gross Profit Exercise by: Anonymous I'm confused by this please help: Inventory (1 march 2013) 150 000 sales 100 000 purchases 80 000 sales returns 1500 purchases returns 2000 Freight charges on purchases 650 Freight charges on sales 1700 Settlement discount granted 350 Please help, which should I consider when calculating cost of sales and gross profit.
Inventory by: Anonymous Hi I want to ask about the following: Inventory(1 March20.2) - 170000 sales-550000 purchases -350000 sales returns -1200 purchases returns - 2000 closing inventory -160500 What is the cost of sales figure?
answer by: waqas CGS = opening inv + purchases - closing inv
Cost of sales formula by: Patrick Purchases X Add closing stock(inventory) X X Less opening inventory(stock) (X) Cost of sales X
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