When the units are sold,Cost of Goods Sold is debited.

Name: When the units are sold,Cost of Goods Sold is debited.
Brand: Quizplus
Rating: 4.8 (48 reviews)

Question

Quizplus · Accepted Answer

Cost of Goods Sold is a debit account which is used to record the cost of the products sold. When a company sells their products, they need to record the cost of those products as an expense, and this expense is recorded as a debit to the Cost of Goods Sold account. Therefore, when the units are sold, Cost of Goods Sold is debited.

When the Units Are Sold,Cost of Goods Sold Is Debited