Cost of Goods Sold Sheet Template

By | October 21, 2013

Cost of goods sold is amount paid by Merchandising Corporation for the merchandise sold during an agreed period of time. It is prepared on monthly basis on the completion of accounting cycle to calculate cost of goods sold and gross profit of the company. This is the price at which the goods were purchased and direct cost associated by bringing them to the sales room and completing the sale. Cost of goods sold is important to include in the balance sheet and its actual calculation is based on the manufacturing status of the company either the company is producing single product or multiple products. Cost of goods sold sheet will help you to report and analyze sales of the company of all sizes. It is important part of general ledger and helps you to calculate important things like break-even point.

Formula to Calculate Cost of Goods Sold

Cost of goods sold is an important part of business accounting therefore it is important to prepare this sheet on time. Following formula will help you to calculate cost of goods sold:

Beginning Inventory + Inventory Purchased – End Inventory = Cost of Goods Sold

Here is preview of this Free Cost of Goods Sold Sheet Template created using MS Excel,

COGS Sheet Template

Tips to Design Cost of Goods Sold sheet

Cost of goods sold sheet is an important part of whole accounting cycle and following tips will help you to design cost of goods sold sheet:

  • Get amount of beginning inventory for the month you are calculating the cost of goods sold. This will be the ending inventory of previous month so you can take it from the balance sheet of last month.
  • Calculate total cost of direct material purchased during the month and add this number in the beginning inventory number. This will be the cost of material used in the production of your product. Do not include amount of office supplies because it will be taken in the indirect expenses.
  • It is time to add cost of direct labor used during this month in the manufacturing of goods. Direct labor will be the wages of workers who run manufacturing equipment and provide direct supervision. Wages paid, taxes of employer including social security and benefits paid by the company for employees will be calculated to get direct labor cost.
  • Subtotal of the beginning inventory will be added in the cost of direct materials purchased, plus cost of direct labor. You will get a number for the total goods available for sale during month.
  • Value of ending inventory will be subtracted from the total cost available for sale during month. You will get a number called cost of goods sold for this month. This cost is calculated by including direct cost of goods manufactured.
  • If multiple products are manufactured by your company then you have to calculate individual cost by product. After this multiply each individual cost with total sale of the each product of the month and after getting total sales of each product, add them together and get total cost of goods sold.

Here is download link for above mentioned Free Cost of Goods Sold Sheet Template,

Download Cost of Goods Sold Sheet Template

Related Excel Templates

  • Monthly Time Sheet TemplateMonthly Time Sheet Template Time sheet is an important document that is used for the recording of work done by particular employee with actual completion time for the job. Time sheet includes days of working weeks, working hours, beginning and ending of lunch time and total time taken by employee for break. Time sheet is usually calculated at the end of the pay period. It is a common task that has been done by […]
  • Banquet Hall Reservation Sheet TemplateBanquet Hall Reservation Sheet Template A banquet hall proprietor and event organizer should be on exactly the same web page when preparing an event. To guarantee the event is effective and problem-free, there are a couple of essential particulars that you should know and supply to reserve a location. Excel spreadsheets are PC paperwork that show an area of columns as well as rows so you can certainly show info such as a […]
  • Home Inventory Sheet TemplateHome Inventory Sheet Template Home inventory sheet is an important document as it will help you to identify and report all items that are destroyed by fire or burglarized. In the absence of home inventory sheet you will not be able to replace these items. It will help you to file insurance claim against each destroyed product of your house. Insurance companies often advice their customers to design a home inventory […]
  • Help Desk Flow Data Sheet TemplateHelp Desk Flow Data Sheet Template Help desk flow data sheet proves really useful in the designing and documentation of complex processes and programs. It makes your work easy by visualizing everything and increasing your understanding level. Data flow diagram is most important part of the organization to keep everything in organized manger. This is a better way to perform all important tasks as you can easily control […]
  • Wedding Planning Worksheet TemplateWedding Planning Worksheet Template Planning for your wedding can sometimes be a very tiresome and mind boggling event. You can always easily lose track of the entire budget that you’re spending when planning for a wedding event. Because that is the time when you’re cash is flowing out and you have to keep track of every single detail. It is not very easy to remember everything without properly writing it down somewhere. […]
  • Cleaning Sheet TemplateCleaning Sheet Template A cleaning sign off sheet is frequently prepared in large organizations like hospitals or big factories where large equipments are installed and it’s necessary to clean those machines on regular basis. It’s also applicable when it comes to offices which have more than one department and it’s very important to clean each floor with maximum supervision. The actual aim of a cleaning sign […]
  • Store Sales Tracking TemplateStore Sales Tracking Template Sales are the major source of revenue for any kind of business may it deal with tangible products or intangible products i.e. services. No matter how efficient one’s production and manufacturing strategies are, it has to generate sales to earn profit for its company. Sales is the primary source of generating revenue and indirect sources are marketing, manufacturing, production and […]
  • Sales Forecast Report TemplateSales Forecast Report Template Before going to discuss the guidelines for establishing product sales goals, it is important to discuss a little about the term sales. Sales are an ameliorated part of any business whether your business is services based or products based however as compared to services, sales is often used in products related business. Selling is a process in which through proper marketing and […]
  • Price List TemplatePrice List Template Preparing the price list is one of the important tasks in creating demand of your product in the market as well as among masses. It is the most critical point in every business. The retailer has to keep the price list precise and comparative to make it attractive for the customers. It looked as simple phenomena but need a deep insight while making price list. Everyone is searching for […]
  • Job Sheet TemplateJob Sheet Template Job sheet is an important part of any successful business therefore it is necessary to create. It is also known as job cost sheet and categorized as an accounting document because it will help you to calculate the costs of a particular project and orders. Job sheet will help you to have an estimate of your customers and upcoming expenses therefore you can also consider as a scorecard. […]