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Cost of goods sold

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Cost of goods sold is an accounting term referring to the direct expenses related to creating and producing a product. Types of expenses that are considered "Cost of goods sold" include:

  • The cost of product or raw materials, including the cost of having them shipped to you.
  • The cost of storing the products you sell.
  • Direct labor costs (including contributions to pensions or annuity plans) for workers who produce the products.
  • Factory overhead expenses.

See also

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