Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 8 - No. 29)
What is 'cost of goods sold' (COGS)?
The costs of manufacturing a good.
The costs of selling goods.
The costs of producing or acquiring the goods that a company sells.
The amount of money used to acquire inventory.
Explanation
COGS represents the direct costs of producing the goods sold by a business.
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