Home » Accounts (Principles of Accounts) » Which of the following is correct about cost of goods sold?Which of the following is correct about cost of goods sold? Which of the following is correct about cost of goods sold? A. opening stock + purchases – closing stock B. opening stock + sales + closing stock C. openig stock – purchases – closing stock D. opening stock + sales + closing stock Correct Answer: Option A Explanation Related Posts An allowance given to a customer by a supplier for prompt payment is What are the entries of posting credit purchases into the purchases ledger control account? The source document used to make entries in the purchase day book is The amount of individual items on a government budget is called The equivalent of income and expenditure account in a trading concern is Use the following information, (begin{array}{c|c} & D\ hline text{Construction of classrooms} & 500,000\ text{Sinking of…
Use the following information, (begin{array}{c|c} & D\ hline text{Construction of classrooms} & 500,000\ text{Sinking of…
