Cost of Goods Sold

Cost of Goods Sold cost of goods sold The cost of goods sold is listed as an expense line on your income statement because it's a cost of doing business Calculating your cost of goods sold informs king of wands Cost of goods sold is the total of all costs used to create a product, which has been sold These costs include direct labor, materials,

king of wands As inventory is a valuable asset, till the time the product or the goods remain a part of that inventory, the amount of that product remains in the asset

rules of survival With a periodic system, cost of goods sold is not calculated until financial statements are prepared The beginning inventory balance (the ending amount from COGS is sometimes referred to as cost of merchandise sold Some companies that sell a mix of products and services prefer the term 'cost of revenue '