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Compute cost of goods sold for the year 2017: |
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Answer» Calculation of cost of goods sold for the year 2017: Cost of goods sold = opening stock + Purchased + Direct expenses – closing stock = 30,000 + 1,50,000 + (10,000 + 10,000) – 40,000 = 30,000 + 1,50,000 + 20,000 – 40,000 = 2,00,000 – 40,000 Cost of goods sold = Rs. 1,60,000 Note: Direct expenses includes both wages as well as carriage inwards. |
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