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.
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Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
Christie has written 799 awesome articles for us at Alan Lewis Accountants – BLOG
Twitter: @christielewis
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