Assertion: inventory's cost | /r/HasProperty | cog
Facets:
value: commonly
type: DEGREE
Source sentences:
text: When a merchant buys goods from inventory, the value of the inventory account is reduced by the cost of goods sold (COGS).
text: For non-manufacturing companies using the periodic inventory system in its general ledger, the cost of goods available (COGA, or cost of goods available for sale) for a year is the sum of the following: the costs in the beginning inventory (the prior year's ending inventory) + the cost of the current year's net purchases.
text: The cost of goods sold, commonly referred to as COGS, is a fundamental income statement account, but a company using a periodic inventory system will not know the amount for its accounting records until the physical count is completed.
text: At its most basic level, ending inventory can be calculated by adding new purchases to beginning inventory, then subtracting the cost of goods sold (COGS).
text: This accounting method takes inventory at the beginning of a period, adds new inventory purchases during the period and deducts ending inventory to derive the cost of goods sold (COGS).
text: Cost of goods sold (COGS), otherwise known as cost of sales, refers to the direct costs of producing goods.
text: The Cost of Goods Sold (COGS)
text: What is the cost of goods sold (COGS)?
text: Note that cost of goods sold (COGS) sometimes appears as a stand-in for stock used up during an accounting period (see the inventory turns metric, below, for instance).
text: Cost of goods sold (COGS) for the year (from the Income statement): $22,043,000
text: Cost of goods sold (COGS) = Beginning inventory + Purchases –
text: The most important thing to know about inventory is that it's essential in calculating the cost of goods sold (COGS).
text: Such costs include labor costs and payments towards utilities like electricity, which is represented by the cost of goods sold (COGS) and is defined as the cost of acquiring or manufacturing the products that a company sells during a period.
text: Also called the cost of goods sold (COGS), the costs of sales are the direct expenses from the production of goods during a period.
text: = 5.5 turns / year Note that the turns metric is sometimes found using Cost of goods sold (COGS), or Cost of sales in place of Net sales revenues.