The total expense of buying or producing the company's goods or services is known as which of the following?

Question

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Cost of goods sold (COGS) represents the total expenses incurred by a company in order to produce or purchase the goods or services that are sold during a specific period of time. This includes the cost of materials, labor, and overhead expenses that are directly related to the production process. COGS is an important metric for calculating a company's gross profit margin and overall profitability.

The Total Expense of Buying or Producing the Company's Goods