Search 120,491 Tips
Basic Business Terms
Cost of Goods Sold
Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Basic Business Terms and other Small Businesses topics.
What is Cost of Goods Sold?
Cost of Goods Sold
The Cost of Goods Sold is the direct cost of all items sold during an accounting period. In a retail type environment, this is usually calculated by taking the inventory held at the beginning of the period, adding inventory purchases, and subtracting the inventory held at the end of the period. In a manufacturing environment, these costs may include all of the supplies used to build the items sold as well as the amount paid to employees who built the items.
Not finding the advice and tips you need on this Small Businesses Tip Site? Request a Tip Now!
| Guru Spotlight |
| Sherril Steele-Carlin |
