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Cost of Goods Sold Formula

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Cost of Goods Sold represents the direct expenses incurred in producing or acquiring goods that have been sold during a specific period. Check FAQs

COGS = BI + PDP - EI

COGS - Cost of Goods Sold?BI - Beginning Inventory?PDP - Purchases During the Period?EI - Ending Inventory?

Cost of Goods Sold Example

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Here is how the Cost of Goods Sold equation looks like with Values.

Here is how the Cost of Goods Sold equation looks like with Units.

Here is how the Cost of Goods Sold equation looks like.

17355 = 13200 + 6800 - 2645

17355 = 13200 + 6800 - 2645

17355 = 13200 + 6800 - 2645

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Cost of Goods Sold Solution

Follow our step by step solution on how to calculate Cost of Goods Sold?

FIRST Step Consider the formula

COGS = BI + PDP - EI

Next Step Substitute values of Variables

∴

COGS = 13200 + 6800 - 2645

Next Step Prepare to Evaluate

∴

COGS = 13200 + 6800 - 2645

LAST Step Evaluate

∴

COGS = 17355

Cost of Goods Sold Formula Elements

Variables

Cost of Goods Sold

Cost of Goods Sold represents the direct expenses incurred in producing or acquiring goods that have been sold during a specific period.

Symbol: COGS

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Cost of Goods Sold

Beginning Inventory

Beginning Inventory refers to the value of goods and materials held by a business at the start of a specific accounting period.

Symbol: BI

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Beginning Inventory

Purchases During the Period

Purchases During the Period refers to the total cost of acquiring goods or materials by a business within a specific timeframe, typically a fiscal or accounting period.

Symbol: PDP

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Purchases During the Period

Ending Inventory

Ending Inventory is the value of goods and materials held by a business at the conclusion of a specific accounting period.

Symbol: EI

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Ending Inventory

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How to Evaluate Cost of Goods Sold?

Cost of Goods Sold evaluator uses Cost of Goods Sold = Beginning Inventory+Purchases During the Period-Ending Inventory to evaluate the Cost of Goods Sold, The Cost of Goods Sold is the total cost incurred by a business in producing or acquiring the goods that were sold during a specific period. Cost of Goods Sold is denoted by COGS symbol.

How to evaluate Cost of Goods Sold using this online evaluator? To use this online evaluator for Cost of Goods Sold, enter Beginning Inventory (BI), Purchases During the Period (PDP) & Ending Inventory (EI) and hit the calculate button.

FAQs on Cost of Goods Sold

What is the formula to find Cost of Goods Sold?

The formula of Cost of Goods Sold is expressed as Cost of Goods Sold = Beginning Inventory+Purchases During the Period-Ending Inventory. Here is an example- 17355 = 13200+6800-2645.

How to calculate Cost of Goods Sold?

With Beginning Inventory (BI), Purchases During the Period (PDP) & Ending Inventory (EI) we can find Cost of Goods Sold using the formula - Cost of Goods Sold = Beginning Inventory+Purchases During the Period-Ending Inventory.

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Cost of Goods Sold Formula

Cost of Goods Sold Example

Cost of Goods Sold Solution

Cost of Goods Sold Formula Elements

Other formulas in Cost Accounting category

How to Evaluate Cost of Goods Sold?

FAQs on Cost of Goods Sold

Variable Name