Question

distiguish between cost of goods sold and cost of goods produced​

Answer 1

Answer:

Brainiest me

Explanation:

The cost of goods sold (COGS) is the carrying value of goods sold during a particular period. Costs are associated with particular goods using one of the several formulas, including specific identification, first-in-first-out (FIFO), or average cost. Costs include all costs of purchase, costs of conversion, and other costs that are incurred in bringing the inventories to their present location and condition. Costs of goods made by the businesses include material, labor, and allocated overhead. The costs of those goods which are not yet sold are deferred as costs of inventory until the inventory is sold or written down in value.

Answer 2

Answer:

cost of goods sold include factory overhead as well as administration overhead but cost of goods produced include only factory overhead..

simply you can say cost of goods produced means direct cost incurred to produce.