Is the cost of goods sold the same as expenses?
Asked 3 years ago
What does COGS entail and how does it differ from the other expenses?
Kole Kline
Tuesday, November 09, 2021
Cost of goods differs from other expenses because it only deals with production costs of a good or service. It is used in determining gross profit and together with other expenses, you’ll get net profit. Other expenses will include expenses in distribution, administration, sales, and operating expenses.
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