Inventory Disclosure

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Inventory Disclosure

Postby sanbiz20 » Sat Aug 12, 2017 6:58 am

What is meant by this Inventory Disclosure

Cost of Inventory recognized as expense(COGS)?

Does it mean the gain or loss in the income statement due to a inventory write-down or write-up

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Re: Inventory Disclosure

Postby edupristine » Sun Aug 13, 2017 4:16 am

COGS is adjusted for Inventory usage during the income statement period. COGS is derived as Add: OpeningInventory Add: Raw Materials Purchased during year Sub: Closing Inventory. It helps in determining the actual cost of materials during the period.

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