Cost of Sales
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Financial Statements of a Sole Proprietorship without Adjustments
MS: Kos Jualan · EN: Cost of Sales · ZH: 销售成本
Meaning
Cost of Sales is the actual cost of the goods that were sold during an accounting period. It is calculated using the formula: opening inventory plus net purchases plus carriage inwards minus closing inventory. Cost of sales is deducted from net sales to obtain gross profit.
Example
Anggun Clothing Store has opening inventory of RM8,000, net purchases of RM30,000 and closing inventory of RM6,000. Cost of sales = 8,000 + 30,000 - 6,000 = RM32,000.
Source: DSKP KSSM Prinsip Perakaunan Tingkatan 4