Explain the concept of cost of goods sold?
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- COGS termed or stand for the Cost of goods sold, which is defined as the direct cost of manufacturing the goods that is sold by the company. The amount involve the cost of the labor and cost of the direct materials, which are directly used or related to create the goods.
- It is also referred or acknowledged as the Cost of Sales. When computing the COGS, do not involve the cost of creating the goods or services that the business sell. It does not involve the indirect expenses such as the overhead costs.
You can learn more from here about COGS:
https://brainly.in/question/13290674
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https://brainly.in/question/8500598
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