How to Calculate Cost of Goods Sold?
Accounting Equation:
Cost of Goods Sold (COGS) = Beginning Inventory + Net Purchases - Ending Inventory
Online Accounting Example Problems and Tutorials on: Calculating Net Income, Balance Sheets, Job Order Costing Examples, Manufacturing Overhead, Expanded Accounting Equation, Journal Entries, Process Costing, and many more financial and managerial accounting topics. Ideal for for small business accounting and college accounting classes.