Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 5 - No. 29)
What is 'Cost of Goods Sold' (COGS)?
The total cost of all goods the company purchased during the period.
The total cost of goods sold during the period.
The amount of money spent on marketing.
The amount of money spent on salaries.
Explanation
COGS represents the direct costs attributable to the production of the goods sold.
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