product costs

Cost of Goods Sold (COGS): Important to Know Your Product Costs

Cost of Goods Sold (COGS) is a common term in accounting, especially in financial statements for businesses. COGS refers to the total cost incurred to produce goods or services sold by a company during a specific period. These costs include various elements directly contributing to the production of those goods or services. In this article, we will discuss the definition…

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