How do you calculate the cost of goods sold on a profit and loss account?
Asked 3 years ago
I've tracked my operation expenses separately to my P&L sheet, but I want to integrate them for easier management. Who here knows how to calculate it so that it works together?
Lane Cooper
Monday, March 21, 2022
COGs refer to all the expenses associated with manufacturing goods to be sold. Here is a simple formula to calculate your COGs:
COGS = Starting Inventory + Purchases in the defined period - Ending Inventory
You can use this formula in excel or a spreadsheet to calculate your COGS for every day separately.
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