Compute cost of goods sold for the year 2016-2017. With the help of the following information.
Stock on 01-April-2015 3,00,000
Stock on 31-March-2016 4,00,000
Purchases during the year 15,00,000
Sales during the year 20,00.000
wages 1,20,000
Cost of goods sold = Opening Stock + Net purchase + Direct Expenses – Closing Stock
COGS = 3,00,000 + 15,00,000 + 1,20,000 – 4,00,000 4
= 15,20,000
