P2 C5 ACCOUNTNG RATIOS AND ANALYSIS — Elements of Account STD 12 Commerce — Question
Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountP2 C5 ACCOUNTNG RATIOS AND ANALYSIS1 Mark
Question
What is cost of goods sold?
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Answer
Cost of goods sold is the total of direct costs (opening stock + purchases + direct expenses - closing stock) incurred to produce goods sold by a company.
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