What is cost of goods sold?

[lara]

In accounting, what is meaning of cogs(cost of goods sold)?

 

[robertwilliam]

Cost of Goods Sold (COGS), listed as a prime cost, basically amounts to the disbursed money from goods that have been produced or purchased along with the manufacturing overhead for the specific time period in question.

 

[brook]

Cost of Goods Sold (COGS) which is defined as a prime cost is simply the amount of money disbursed by the goods which have been produced or purchased plus the manufacturing overhead of the time period in question.

 

[Lucas]

Cost of goods sold (COGS) is the direct cost of producing or purchasing the goods a company sells.

 

[BlissCore]

The total cost of making or purchasing the products sold by a business within a certain time is referred to as Cost of Goods Sold (COGS). It encompasses such items as raw materials, labour and the cost of manufacture. Stated simply, it is the cost of producing or buying the products you are selling.

 

[Gsusangrey]

The direct cost that can be ascribed to the manufacture of the goods or services sold by a company is referred to as Cost of Goods Sold (COGS). It covers cost of materials and direct labor, but not indirect costs such as sales and marketing.

 

[peterkavinsky]

Cost of Goods Sold (COGS) is the total direct cost of producing or purchasing the products a business sells.

 

[Shane Warne]

Cost of Goods Sold (COGS) refers to the total cost that a company spends in order to manufacture or buy items that it is selling. It incorporates raw materials, labor and manufacturing cost, but does not incorporate operating costs. COGS assists in computing the gross profit and also gauges production effectiveness.