Cost of Sales

What is Cost of Sales?

Cost of Sales sometimes referred to as Cost of Goods Sold and abbreviated to COGS, 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 Cost of Goods Sold.

Cost of Sales can equally refer to a service as well as a physical product.

For further information on Cost of Sales see the Wikipedia definition.

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Last modified May 20th, 2013 by Team

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