Meaning of the word "cost of goods sold" in English
What does "cost of goods sold" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
cost of goods sold
US /kɔst əv ɡʊdz soʊld/
UK /kɔst əv ɡʊdz soʊld/
Noun
1.
the direct costs attributable to the production of the goods sold by a company. This amount includes the cost of the materials used in creating the good along with the direct labor costs used to produce the good.
Example:
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Calculating the cost of goods sold is crucial for determining a company's gross profit.
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The accountant reviewed the cost of goods sold to identify areas for cost reduction.
Synonym:
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