rajacoby
2 Answers
country bumpkin
Bob/PKB
In accounting terms, if your business buys something and resells it for different price, the "COST OF GOODS SOLD" is the price you, as the business, pay for the items that you sell to others.
For example, if I make earrings, and spend $5.00 for beads, wires, and pins, then sell them for "Whatever", the "Cost of Goods Sold" is $5.
| 12 years ago. Rating: 4 | |
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