Question

cost of goods sold $ 568,825 $ 351,650 $ 316,300 ending inventory 103,900 94,250 99,000 use the above information to compute inventory turnover for year 3 and year 2, and its days' sales in inventory at december 31, year 3 and year 2. from year 2 to year 3, did palmer improve its (a) inventory turnover and (b) days' sales in inventory?

Answer 1

The cost of goods sold will be $351,650 for the above questions after all calculations.

• Cost of Goods Sold (COGS) refers to the direct costs of manufacturing the goods that a business sells. This amount includes the cost of materials and labor directly used in manufacturing the goods. Excludes overhead costs such as sales and field service costs.
• Cost of Goods Sold (COGS) includes all costs and expenses directly related to the production of goods.
• COGS does not include overheads or overheads such as sales and marketing.
• COGS is subtracted from sales (Sales) to calculate Gross Margin and Gross Margin. The higher the COGS, the lower the margin.
• The value of COGS depends on the accounting standard used for calculation.
• COGS differs from operating expenses (OPEX) in that OPEX includes costs that are not directly related to the production of goods or services.

To learn more about COGS refer to:

brainly.com/question/24561653

#SPJ1