Basic accounting quiz

How do we calculate the COGS in Inventory??

• What the f**k is COGS???

• O. Inventory + Purchase + C. Inventory

• O. Inventory - C. Inventory + Purchase

• C. Inventory - O. Inventory - Purchase

If we add the "carriage inwards", the COGS formula will be:

• O. Inventory - Purchase + C. Inventory + C. Inwards

• O. Inventory + Purchase - C. Inventory + C. Inwards

• O. Inventory - Purchase - C. Inventory + C. Inwards

• O. Inventory + Purchase + C. Inventory + C. Inwards

What is the right formula of Income Statement

or Statement of Profit Loss???

• Step 1: Sales - COGS = Gross Profit

  Step 2: Gross Profit - O. Expense = Profit/Loss

• Step 1: Sales + COGS = Gross Profit

  Step 2: Gross Profit + O. Expense = Profit/Loss

• Step 1: Sales - COGS = Gross Profit

  Step 2: Gross Profit + O. Expense = Profit/Loss

• Sales - COGS = Gross Profit

How do we calculate the NRV

(Net realisable value) aka "giá trị thuần

có thể thực hiện được"????

• A. Selling P - (Cost of completion + Selling cost)

• B. Selling P - Selling Cost

• Both A and B

• I don't know, f**k you

When we have NRV and production cost,

how can we calculate the value of inventory??

• Measure NRV and production cost, the lower one will be used.

• Measure NRV and production cost, the higher one will be used.

• Get the sum of them.

• Minus them and get the final cost.

And now, how can we find the value of inventory??

• Quantity x The higher value between NRV and Production cost

• Quantity x The lower value between NRV and Production cost

• Stop asking me, I don't know

• Quantity x The sum of NRV and Production cost