Write the formula for the following : Cost of good sold for a retailer Cost of g

Question

Write the formula for the following : Cost of good sold for a retailer Cost of good sold for a manufacturer Cost of goods manufactured Cost of direct materials used Write the formula for the following : Cost of good sold for a retailer Cost of good sold for a manufacturer Cost of goods manufactured Cost of direct materials used Write the formula for the following : Cost of good sold for a retailer Cost of good sold for a manufacturer Cost of goods manufactured Cost of direct materials used Cost of good sold for a retailer Cost of good sold for a manufacturer Cost of goods manufactured Cost of direct materials used

Explanation / Answer

Cost of good sold for a retailer

=Beginning Inventory+New purchases-Ending inventory

Cost of good sold for a manufacturer

=Beginning Finished Goods Inventory + Cost of Goods Manufactured  – Ending Finished Goods Inventory

Cost of goods manufactured

=Direct materials used + direct labor used + manufacturing overhead assigned +beginning work-in-process inventory - ending work-in-process inventory

Cost of direct materials used

=Openning Stock of Direct material + Direct Material Purchased-Ending Stock of Direct material

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