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Cost of Goods Sold, or the Dreaded COGS — 4 Comments

  1. Thanks for your concepts. One thing I’ve got noticed is that often banks as well as financial institutions have in mind the spending behavior of consumers while also understand that most of the people max out and about their real credit cards around the breaks. They sensibly take advantage of this kind of fact and commence flooding your own inbox plus snail-mail box along with hundreds of no-interest APR credit card offers right after the holiday season comes to an end. Knowing that if you’re like 98 in the American open public, you’ll leap at the opportunity to consolidate personal credit card debt and shift balances to 0 interest rates credit cards.

  2. In these days of austerity along with relative panic about taking on debt, many people balk about the idea of utilizing a credit card to make purchase of merchandise or maybe pay for any gift giving occasion, preferring, instead just to rely on a tried in addition to trusted way of making transaction – hard cash. However, in case you have the cash there to make the purchase in whole, then, paradoxically, this is the best time to use the credit card for several reasons.

  3. One thing is one of the most typical incentives for applying your credit card is a cash-back or rebate supply. Generally, you will get 1-5 back for various expenses. Depending on the credit card, you may get 1 again on most acquisitions, and 5 back on purchases made using convenience stores, gas stations, grocery stores along with ‘member merchants’.

  4. For those of you who have small manufacturing businesses, such as furniture making or other creative outlet, figuring the costs of goods sold will be a little more complex as you have to track how much you use of each type of material used in the construction of the item. Then, figuring the cost to produce for each type of material used. Be sure to account for waste materials, such as cloth remnants, or other types of materials. For example: It may take only 3 square feet of cloth to make each item, but due to the size of the roll of cloth and the shape of the pattern, you might need to use 4 square feet of cloth for each pattern piece.

    Happy Accounting,


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