Cost of Goods Sold

Trial Balance

MS: Kos Barang Dijual · EN: Cost of Goods Sold · ZH: 销货成本

Meaning

Cost of goods sold is the actual cost of trading goods that have been sold in a period. It is calculated using the formula: opening inventory plus net purchases plus carriage inwards minus closing inventory. This figure is essential for arriving at gross profit.

Example

Anggun Boutique has opening inventory RM4,000, purchases RM18,000 and closing inventory RM2,000. The cost of goods sold is RM4,000 plus RM18,000 minus RM2,000, which is RM20,000.

Source: DSKP KSSM Prinsip Perakaunan Tingkatan 4

Other terms in this chapter

All terms →