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Cost of Goods Sold
(redirected from Cost of sales)

   Also found in: Acronyms, Wikipedia, Hutchinson 0.06 sec.
Cost of goods sold
The total cost of buying raw materials, and paying for all the factors that go into producing finished goods.

cost of goods sold
The cost of purchasing materials and preparing goods for sale during a specific accounting period. Costs include labor, materials, overhead, and depreciation.

Cost of Goods Sold
Beginning inventory plus direct purchases, direct labor costs, and overhead costs less withdrawals for personal use and ending inventory. Sole proprietors compute their cost of goods sold in Part III of Schedule C.


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? Mentioned in ? References in periodicals archive
 
When gross sales are $1 and the cost of sales is 75 cents, the gross margin is 25 percent.
Cost of sales for the three months ended September 30, 2006 was $1,402,975 or 100.
Cost of sales in the third quarter of 2006 decreased by $342,939 to $1,422,788, or 61.
 
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