Cost of goods sold
From ACT Wiki
(COGS).
Accounting.
The charge in an income statement relating to raw materials and goods purchased for resale.
It is calculated as:
Purchases
+ Opening stock
Less: Closing stock
= Cost of goods sold
(COGS).
Accounting.
The charge in an income statement relating to raw materials and goods purchased for resale.
It is calculated as:
Purchases
+ Opening stock
Less: Closing stock
= Cost of goods sold