acct229 at Texas A&M


in Chapter 5 (Video 6 of 11)
How can we figure out COGS under the periodic inventory system? By making up a formula, of course.

This Video Mentioned Some Formulas

Beginning Inventory
+ Net Purchases
– Ending Inventory
Beginning Inventory
+ Net Purchases
Ending Inventory
Sales Revenue
– Sales Returns and Allowances
– Sales Discounts
Net Sales
– Purchase Returns and Allowances
– Purchase Discounts
Net Purchases
+ Transportation In
Cost of Goods Purchased

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