Finding Revenue with opening stock, closing stock, and COGS - how? (1 Viewer)

[Learned]

Title for reference, I'm not sure how.

 

[fortune_cookie]

You can't.

Revenue depends on your sale price.

COGS depends on the actual cost to you.

 

[Learned]

Ahh okay, I have a worksheet that gives an income statement - Gross profit and sales (revenue) are blank, but everything inbetween is there, I have no idea how to work it backwards to find sales.

 

[fortune_cookie]

it's a bit hard to understand, it would be best if you put up the actual question (with numbers).

I am wondering why you have opening stock and closing stock, and then they give you COGS

 

[Learned]

Sales - ??
less COGS
Opening Stock - 110 000
add Purchases - 45 000 (155 000)
less Closing stock - 120 000
COGS = 35 000

Gross Profit - ??


I'm not sure this will make sense to anyway, but we'll see

 

[Learned]

Wowwww, disregard all this. I figured it out, it's those income statement layouts with the working on one side, and the product of the sums on the other. Just-after-school-temporary-braindeath condition.