Cost of goods sold has to do with the amount which the retailer has paid for goods actually resold. It includes the invoice cost, discounts, rebates, shrinkage and freight charges.
The formula to compute the cost of goods sold is: opening stock at cost plus purchases at cost less closing stock at cost
Ref: 123383/2006-10-03
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Goods (Goods are tangible products for sale that can be ...)
Alternative Spellings (Synonyms): costs