Respuesta :

The amount of Cost of goods sold is $920,000.

Cost of goods sold refers to the amount of direct cost that is incurred in the production of goods or services.

  • Let understand that formulae for deriving Cost of goods sold is Opening inventory + Purchase - Ending inventory
  • Now, we have to first derive the amount of Purchase and this is calculated as follows:

What is cost of goods sold in balance sheet?

The cost of goods sold is the direct charge, cost, or expense associated with the manufacturing of merchandise and services that are retailed to buyers.

COGS do not comprise any overhead expenses such as rent, security charges, communication charges, etc.

Learn more about cost of goods sold here:

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