cost of goods sold (COGS)

  

Definition

Alternative term for cost of sales.

Use this term in a sentence

  • My boss told me that we needed to determine the cost of goods sold, in order to remain organized and have an idea of what was going on.

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  • The suppliers for the production line have increased their prices on materials which has caused the total cost of goods sold for the company's products to increase by 15%.

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  • In looking over the business' financial reports, Bob found that the cost of goods sold was much higher than previous years, which explains the increase in profit.

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