( Accounting : Financial statements , Income statement )
cost of sales
The cost of goods sold is calculated as beginning inventory plus purchases plus materials and labor minus
The cost of goods sold on the income statement reflects all costs directly tied to any product a company
sells, be it a merchandiser or a manufacturing company.
The cost of goods sold is the cost of purchasing goods for resale, added to the cost of the raw materials
and labor used to manufacture goods that are sold in a particular period of time.
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