Example of Cost of Goods Sold - Note 2
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NOTE 2 - COST OF GOODS SOLD
The dollar amounts shown in the Cost of Goods Sold account has been arrived at as follows. Please note; figures are rounded to the nearest dollar.
| YEAR 1 | YEAR 2 | YEAR 3 | |
| Beginning Inventory | $ nil | $ 9,786 | $ 4,875 |
| Add: Purchases | $139,977 | $141,467 | $151,814 |
| Goods Available for Sale | $139,977 | $151,253 | $156,688 |
| Less: Ending Inventory: | |||
| Diskette inventory | $ 6,683 | $ 2,803 | $ 1,790 |
| CD Inventory | $ 3,103 | $ 2,072 | $ 2,053 |
| COST OF GOODS SOLD | $130,191 | $146,378 | $152,846 |