Cost of sales

This topic has 3 replies, 2 voices, and was last updated 5 years ago by John Moffat.

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January 9, 2021 at 3:17 am #605306
applessauce
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Sir is cost of sales an asset, expense or purchase account?
January 9, 2021 at 10:11 am #605346
John Moffat
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An expense.
January 9, 2021 at 11:25 am #605356
applessauce
Member
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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
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It is an expense account (if there is a profit on disposal then that is a negative expense).
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