What is COGS?

COGS is an abbreviation for Cost of Goods Sold sometimes referred to as Cost of Sales, is the costs associated with producing the goods which have been sold during an accounting period. The items must have been sold otherwise there is no COGS.

COGS can equally refer to a service as well as a physical product.

For further information on Cost of Goods Sold see the Wikipedia definition.

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Last modified March 23rd, 2016 by Team

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