Cost of goods sold: Difference between revisions
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[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:The_business_context]] | |||
Latest revision as of 02:50, 21 January 2022
(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
