The Cost of Goods Sold account appears on the:

Question

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The Cost of Goods Sold account is an expense account and appears on the Income Statement, where it is deducted from sales to arrive at gross profit. The Balance Sheet shows assets, liabilities, and equity at a specific point in time; the Statement of Retained Earnings shows how profits are retained or distributed to shareholders over time; and the post-closing trial balance is a list of accounts and balances after closing entries have been made to prepare for the next accounting period.

The Cost of Goods Sold Account Appears on The