Cost of Goods Sold (COGS) Definition | Becker

Accounting Dictionary

Cost of Goods Sold (COGS)

 

  1. The cost of goods sold is beginning finished goods inventory plus cost of goods manufactured less ending finished goods inventory. The inventory costs of the goods sold during a specific time period; the difference between the costs of goods available for sale during a specific period of time and the cost of goods on hand at the end of the period. Inventory costs include all costs necessary to get the product ready for sale.

 

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