Cost of goods sold schedule reconciling inventory movement to the COGS account.
What it shows. Part 1 walks through inventory movement — opening stock, purchases, adjustments, production, closing stock — to compute COGS. Part 2 compares adjusted COGS to amounts posted in the COGS expense account and shows the difference.
When to use it. Use at month-end to validate that inventory-based COGS matches the general ledger, and to explain variances.
How amounts are calculated. Computed COGS = opening stock + additions (purchases, receipt notes, expenses, adjustments, etc.) − closing stock, with adjustments for goods delivered but not invoiced. Difference row highlights unreconciled amounts between the schedule and account postings.
Notes. Some rows link to account transactions when you need to drill into opening inventory or specific journal types.
Stock Movement — Opening Stock, Opening Entries, Purchase, Purchase Expenses, Purchase Returns, Purchase Discounts (Direct COGS updates), Production Overheads, Inventory Adjustments, Inventory Revaluation, Month Closing Adjustments, Less: Closing Stock, Computed COGS.
Adjustments & Account Comparison — Not Invoiced Sales, COGS After Adjustment, Other COGS Entries, COGS in Accounts, Difference (Adj. COGS + Other COGS − COGS in Accounts).
What is COGS schedule?
Cost of goods sold detail supporting income statement.
Match to income statement?
COGS total should reconcile to P&L cost of sales.
Inventory method?
Follows company inventory costing at sale approve.
Returns?
Sale returns/credit notes affect net COGS in period.
Export?
Excel for accountant review.