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Cost of sales

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Cost of sales

  • This topic has 3 replies, 2 voices, and was last updated 4 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
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  • January 9, 2021 at 3:17 am #605306
    applessauce
    Member
    • Topics: 85
    • Replies: 65
    • ☆☆

    Sir is cost of sales an asset, expense or purchase account?

    January 9, 2021 at 10:11 am #605346
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54759
    • ☆☆☆☆☆

    An expense.

    January 9, 2021 at 11:25 am #605356
    applessauce
    Member
    • Topics: 85
    • Replies: 65
    • ☆☆

    And what type of account is a disposal account sir?

    I couldn’t figure out whether it is an asset account or not

    January 9, 2021 at 2:43 pm #605374
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54759
    • ☆☆☆☆☆

    It is an expense account (if there is a profit on disposal then that is a negative expense).

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