Which one of the following formulae is used when calculating the cost of sales in an income

Question:

Which one of the following formulae is used when calculating the ‘cost of sales’ in an income statement?

(a) (Opening Inventory - Purchases - Closing Inventory)

(b) (Opening Inventory - Purchases + Closing Inventory)

(c) (Opening Inventory + Purchases - Closing Inventory)

(d) (Opening Inventory + Purchases + Closing Inventory)

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