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What are the account titles of sold merchandise that cost 1500 for 2600 cash?
the answer is........... account title; cash 2600 merchandise sold 1500
What type of Account is cost of goods sold?
Cost of goods sold is an expense account that shows up on the income statement. It is subtracted from sales to calculate gross margin.
How do you figure Cost of Merchandise Sold?
in 2007, best buy reported revenue of $35,934 million. its gorss profit was $8,679 million. what was the amount of of best buy's cost of merchandise sold
FIFO method Inventory 20 units at 20 sold 10 units purchased 30 units at 21 sold 20 units purchased 10 units at 22 what is the cost of the merchandise sold?
The cost of the merchandise sold is not important!!! :p
When the perpetual inventory system is used the inventory sold is shown on the income statement as?
cost of merchandise sold.
The Cost of Goods Sold account is classified as?
Expense on the income statement. The COI or Merchandise Inventory is reported on the balance sheet as an asset.
What are the account titles of sold merchandise that cost 1500 for 2600 cash?
the answer is........... account title; cash 2600 merchandise sold 1500
What type of Account is cost of goods sold?
Cost of goods sold is an expense account that shows up on the income statement. It is subtracted from sales to calculate gross margin.
Does sales minus cost of merchandise sold minus operating expenses plus or minus other income and expense equal net income?
Yes.
What does is mean by cost of goods sold?
COGS. An income statement figure which reflects the cost of obtaining raw materials and producing finished goods that are sold to consumers. Cost of Goods Sold = Beginning Merchandise Inventory + Net Purchases of Merchandise - Ending Merchandise Inventory.
Are the cost of goods sold a balance sheet account?
Cost of goods sold is of expense nature and that's why not shown in balance sheet rather it is shown in income statement to match expenses against revenues.
In computing the cost of merchandise sold does freight increase or decrease the cost?
Freight costs are added to the cost of the merchandise. The total is typically referred to as the "landed" cost of the product.
How do you figure Cost of Merchandise Sold?
in 2007, best buy reported revenue of $35,934 million. its gorss profit was $8,679 million. what was the amount of of best buy's cost of merchandise sold
FIFO method Inventory 20 units at 20 sold 10 units purchased 30 units at 21 sold 20 units purchased 10 units at 22 what is the cost of the merchandise sold?
The cost of the merchandise sold is not important!!! :p
If you sold merchandise for 5000.00and your cost was 3000.00?
You make 2000$ profit.
Is Depletion expense part of cost of goods sold?
Yes.
Is cost of goods sold an operating expense?
Cost of goods sold is opening stock plus purchases of inventories and other carriage costs less closing stock. Cost of sales therefore is not an operating expense...
