Cost of Goods Sold is based on the company's cost,not the retail price.

Name: Cost of Goods Sold is based on the company's cost,not the retail price.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Cost of Goods Sold is the cost incurred by the company to produce or purchase the products that are sold. It includes the cost of raw materials, direct labor, and other costs directly related to the production of goods. It is not based on the retail price of the product.

Cost of Goods Sold Is Based on the Company's Cost,not