What is COGS in Accounting and How to Calculate It?
Snyder
AUGUST 10, 2022
” COGS is also an accounting term under U.S. Generally Accepted Accounting Principles (GAAP) that requires businesses to apply certain inventory costing principles. COGS is included in business expenses on the income statement. Based on that, businesses try to keep their COGS low and their net income high.
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