Asked by Christin Sajan on May 13, 2024
Verified
Cost of goods sold is also called cost of sales.
Cost
The amount of money or resources expended to obtain, produce, or maintain an object or service.
Sales
The revenue a company earns from selling goods or services.
- Comprehend the calculation and importance of the cost of goods sold and its repercussion on a corporation's gross earnings.
Verified Answer
MC
Meghann CarterMay 14, 2024
Final Answer :
True
Explanation :
Cost of goods sold (COGS) is also called cost of sales, as it refers to the direct costs associated with producing and selling goods, including materials, labor, and manufacturing overhead.
Learning Objectives
- Comprehend the calculation and importance of the cost of goods sold and its repercussion on a corporation's gross earnings.