Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 22 - No. 32)
What is 'Cost of Goods Sold' (COGS)?
The total operating expenses of a business.
The cost of labor.
The direct costs attributable to the production of the goods sold by a company.
The profit earned on sales.
Explanation
COGS is the direct costs related to producing the goods sold.
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