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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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