Cost of goods sold: What is it and how to calculate it?

cost of goods sold Cost of goods sold is an expense account, so it is increased by a debit entry and decreased by a credit entry When making a journal entry, COGS is debited and

What is Cost of Goods Sold?Cost of Goods Sold shows the amount of money a company spends to produce or manufacture the goods they sell This includes the king of war When calculating COGS, businesses take into account the cost of raw materials, labor, manufacturing overheads, and shipping By understanding COGS, businesses