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Cost of goods sold (COGS) (also cost of products sold (COPS), or cost of sales [1]) is the carrying value of goods sold during a particular period. Costs are associated with particular goods using one of the several formulas, including specific identification, first-in first-out (FIFO), or average cost.
In accounting, the gross margin refers to sales minus cost of goods sold. It is not necessarily profit as other expenses such as sales, administrative, and financial costs must be deducted. And it means companies are reducing their cost of production or passing their cost to customers.
Cost of revenue is the total of all costs incurred directly in producing, marketing, and distributing the products and services of a company to customers. Cost of revenue can be found in the company income statement .
Cost accounting is defined by the Institute of Management Accountants as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail.
The Company recorded a gain from continuing operations of $135,004 in the quarter ending December 31, 2012, compared to income from continuing operation of $1,748,096 in the prior year quarter, a ...
However, Norwegian has a better operating margin -- the percentage of revenue a company keeps after accounting for the cost of goods sold and operating expenses -- at 13.3% compared to Carnival's ...
Image source: The Motley Fool. Philip Morris International (NYSE: PM) Q4 2024 Earnings Call Feb 06, 2025, 9:00 a.m. ET. Contents: Prepared Remarks. Questions and Answers. Call Participants
In accrual basis accounting, the matching principle (or expense recognition principle) [1] dictates that an expense should be reported in the same period as the corresponding revenue is earned. The revenue recognition principle states that revenues should be recorded in the period in which they are earned, regardless of when the cash is ...