Cost of Goods Sold means…
The amount calculated in a trading and profit and loss account to represent the cost of the goods that where sold during an accounting period. Eg one month.
COGS enables you to discover your Gross Profit.
WHAT’S IT MEAN? Quickies
This post is part of the “What’s it Mean?” series of short and sweet responses.
Be sure to check the other posts in the series for more quick definitions. You can follow the series along on the blog or read them first by subscribing to our popular Business Plus+ newsletter.
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