The cost of goods sold for the year is: Multiple Choice O $176.100. O $115.300. O $63.300. O $126,900. O $152.900.
The direct expenses of manufacturing the products that a business sells are referred to as its cost of goods sold (COGS). The cost of the labor and materials directly employed to make the item are also included in this sum. It doesn't include indirect expenditures like those associated with the sales staff and distribution. Gross profit and gross margin are determined by deducting COGS from revenues (sales). Lower margins are the result of higher COGS. While a company's gross profit is calculated by subtracting COGS from its revenues, COGS is a crucial financial statement statistic. The gross profit is a measure of profitability that assesses how effectively a business manages its workers and resources during the production process.
Step by step
Solved in 2 steps
