cost of goods sold

the total cost to the business of the goods sold during an accounting period. In its simplest form this is the sum of the opening stock plus all purchases less the closing stock. Glossary of Business Terms
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Amount shown on a firm's income statement representing the direct expenses that the firm incurred for sales. Cost of goods sold is always a debit balance and is shown as either a deduction or a negative number. American Banker Glossary
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The total cost of buying raw materials, and paying for all the factors that go into producing finished goods. Bloomberg Financial Dictionary

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cost of goods sold ˌcost of ˌgoods ˈsold noun [uncountable]
ACCOUNTING the total variable cost S (= costs of materials, workers etc) of goods sold in a particular period of time, before other costs are taken into account:

• Cost of goods sold dropped sharply when Microsoft switched most of the software it sells from magnetic disks to CD-Rom.

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cost of goods sold UK US noun [U] (ABBREVIATION COGS, also cost of sales)
ACCOUNTING the amount of money that a company spends in order to make and sell products in a particular financial period, for example, on wages and raw materials: »

Generally, businesses that make goods may deduct the cost of goods sold from their gross receipts when calculating business income for tax purposes.


Financial and business terms. 2012.

Look at other dictionaries:

  • Cost of Goods Sold — (englisch: „Kosten der verkauften Waren“, kurz COGS) ist ein Begriff aus der Betriebswirtschaftslehre und bezeichnet Kosten, die in einem unmittelbaren Zusammenhang mit den produzierten Waren bzw. Dienstleistungen stehen. Es handelt sich dabei um …   Deutsch Wikipedia

  • Cost of goods sold — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …   Wikipedia

  • cost of goods sold — Fin [m1]1. for a retailer, the cost of buying and acquiring the goods it sells to its customers 2. for a service firm, the cost of the employee services it supplies 3. for a manufacturer, the cost of buying the raw materials and manufacturing its …   The ultimate business dictionary

  • cost of goods sold — COGS See: cost of sales …   Accounting dictionary

  • cost of goods sold — COGS An alternative term for *cost of sales. Use of the term is particularly common in the United Kingdom and in other countries with a history of British influence …   Auditor's dictionary

  • cost of goods sold — overall expenditures due to the products that the business marketed (Accounting) …   English contemporary dictionary

  • Cost Of Goods Sold - COGS — 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. It excludes indirect expenses… …   Investment dictionary

  • Себестоимость реализации, Себестоимость реализованных товаров (COST OF SALES, COST OF GOODS SOLD)  — Себестоимость товаров или услуг, реализация которых отражена в доходах; другими словами, себестоимость произведенной (закупленной) продукции плюс или минус изменение в запасах готовой продукции (или товаров) …   Словарь терминов по управленческому учету

  • cost of sales — ˌcost of ˈsales noun [uncountable] ACCOUNTING another name for cost of goods sold: • Fuel represented less than 3% of Carnival s cost of sales. * * *    ► See Operating Costs. * * * cost of sales UK US noun [U] ACCOUNTING …   Financial and business terms

  • cost of sales — cost of goods sold; = COGS A figure representing the cost to an organization of supplying goods or services for sale, excluding administration and other general overheads. In a sales organization, it is the opening stock at the beginning of an… …   Accounting dictionary

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