The cost of goods sold/sales portion of the income statement shows the cost of products purchased for resale, or the direct labor cost for service.

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The cost of goods sold/sales portion of the income statement typically includes the cost of products purchased for resale, or the direct labor cost for services provided. It is an important metric for determining the profitability of a company's core business operations.

The Cost of Goods Sold/sales Portion of the Income Statement