Cost of Goods Sold (COGS) Definition | Becker
Accounting Dictionary
Cost of Goods Sold (COGS)
- 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.