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January 14, 2021
Question

Can we get the computation of cost of sales?

  • January 14, 2021
  • 1 reply
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1 reply

katherinejoyceO
January 14, 2021

Hi there, @ZGC07

 

Thanks for visiting the Community. Yes, and I'm here to show you how it's calculated. It will help you to determine how much a company spent to produce their sold goods or services.

 

Here's the Cost of Goods Sold (COGS) formula:

 

(cost of inventory at the beginning of the reporting period) 

(other inventory purchased for sale during the reporting period) 

– 

(cost of inventory remaining at the end of the reporting period)

=

cost of goods sold

 

Here's an article for more insights about how to calculate the COGS

 

For future reference, read through this article for further details: Manually track inventory. It helps you learn about tracking the value of your inventory assets in QuickBooks Online. 

 

I'll be here to assist you more if you have more questions about COGS. Take care.