• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for December 2025 exams.
Get your discount code >>

cost of goods sold

Forums › FIA Forums › FA1 Recording Financial Transactions Forums › cost of goods sold

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by secondstar.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • July 22, 2017 at 5:42 pm #398120
    jobo101
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    ive been studying ACCA FA1 for 5 weeks now and have never used ‘cost of good sold’ in the T accounts. What is it, is there an alternative term?

    July 23, 2017 at 2:30 pm #398234
    secondstar
    Member
    • Topics: 16
    • Replies: 220
    • ☆☆☆

    Its not in the T-accounts, its in the Income Statement.
    Its the cost of making those goods available for sale. It includes cost of purchasing the goods, transport charges in bringing them to the premises and any other costs incurred in maintaining them in a sale-able form.

    It is calculated by using this formula:
    COGS = Opening Inventory + Purchases – Closing Inventory

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • hunglq7974 on The Statement of Financial Position and Income Statement (part a) – ACCA Financial Accounting (FA) lectures
  • Sylviazxy on CIMA B3 Introduction to Accounting
  • Mascuud on FA Chapter 2 Questions The Statement of Financial Position and Statement of Profit or Loss
  • mirzayasir4@gmail.com on Business Documentation – ACCA Financial Accounting (FA) lectures
  • John Moffat on FA Chapter 23 Questions Group Accounts The Consolidated Statement of Financial Position (2)

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in