Cost of Goods Sold in Accounting: An In-Depth Look

cost of goods sold  Cost of Goods Sold or as it is more popularly known, COGS is the cost of the material and labor that goes into the production of the goods This does not Cost of goods sold is the total amount your business paid as a cost directly related to the sale of products Depending on your business, that may

The cost of goods sold is the total cost of producing goods or services sold during a particular period, including raw material  Because COGS affects a company's overall profitability, it also affects stock performance If revenue remains the same or increases while cost of goods sold

Cost of Goods Sold Formula Cost of Good Sold Formula = Beginning Inventory + Purchases Cost of Goods Sold Formula The COGS account shows in the income statement for inventory that is sold The starting inventory for the year is the