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which of the statements below are correct regarding cost of goods sold?

Financial & Managerial Accounting: Information for Decisions, 8e Progress 0% 19 Multiple Choice Question Which of the stateme
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Ans : Option B , Cost of goods sold is the expense of buying and preparing merchandise.

optionA is false because cost of goods sold is reported in income statement not in balance sheet

Option C, is false because sales price - cost of merchandise = this equation is not related to COGS

Option D is false COGS is Selling price excluding profit.

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