1. Different sectors have different calculations for their cost of goods sold.

2. The figure of this ratio relies on the cost of goods sold and the average inventory.

3. Cost of goods sold at the current period is computed by subtracting the cost of ending inventory from the cost of goods available for sale.

4. "merchandise sales income" and "the cost of goods sold" can be a breakdown of the types of goods, name, size or a different sales settings.

5. First, we must calculate net purchases by adjusting cost of goods sold for change of inventory.

6. The revenues should be connected with the cost of goods sold.

7. Cost - flows from inventory to Cost of Goods Sold.

8. The cost of goods sold is the cost associated with the product such as direct material, direct labor, manufacturing ...

9. But in perpetual inventory system, cost of goods sold is record each time a sale is made.

10. Expenses include cost of goods sold, administrative expenses, selling expenses, and financial expenses, etc.

11. The cost of goods sold during the period is determined by subtracting the ending inventory from the cost of goods available for sale...

12. Examples are cost of goods sold, sales commission expense, and delivery expense, etc.

13. Answer guide: The question here i6 what should be included as the cost of goods sold.

14. Apple, whose iPhone sales account for nearly half the firm's total sales, reported a 40 percent gross margin, or the percentage of sales left after subtracting the cost of goods sold.

15. Note that the inventory account under a perpetual system is increased by purchases and decreased by the cost of goods sold, purchases returns and allowances , and discounts.

16. The salaries and wages of a company are usually the single largest expense after cost of goods sold.

17. An alternative to the perpetual inventory system which eliminates the need for recording the cost of goods sold as sales occur.

18. The two alternative approaches to the determination of inventory and of cost of goods sold are called the perpetual inventory system and the periodic inventory system .

19. Under the perpetual inventory system, the Merchandise Inventory and Cost of Goods Sold accounts will always show the balance of merchandise on hand and the total cost of goods sold for the period.

20. In existing cost reporting, businesses focus more on product cost reporting rather than on purchasing cost, cost of goods sold as well as cost of after-sale services.

21. There are two systems available for maintaining the inventory records and the Cost of Goods Sold account.http:///cost of goods sold.html

22. We are now ready to trace these costs through Work in Process and Finished Goods to the Cost of Goods Sold account.

23. By assigning cost we are simply dividing the cost of the goods available for sale between cost of goods sold and ending inventory.

24. There are two systems available maintaining the inventory records and the Cost of Goods Sold account.

25. If the rate of gross profit is known, the amount of net sales for a period can be divided into two components that are the gross profit and the cost of goods sold.