Cost of goods sold: Difference between revisions
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imported>Doug Williamson (Create the page.) |
imported>Doug Williamson (Add abbreviation.) |
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(COGS). | |||
''Accounting''. | ''Accounting''. | ||
Revision as of 12:33, 12 October 2016
(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
