The cost of the merchandise sold during an operating period is called the cost of goods sold. It is one of two major expense categories of a business.

Name: The cost of the merchandise sold during an operating period is called the cost of goods sold. It is one of two major expense categories of a business.
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Question

The cost of the merchandise sold during an operating period is called the cost of goods sold. It is one of two major expense categories of a business.​

Quizplus · Accepted Answer

The cost of goods sold (COGS) represents the direct costs attributable to the production of the goods sold by a company, making it a major expense category alongside operating expenses.

The Cost of the Merchandise Sold During an Operating Period