United States home front during World War II. United States home front during World War II supported the war effort in many ways, including a wide range of volunteer efforts and submitting to government-managed rationing and price controls. The labor market changed radically.
It is also known as cost of sales. Cost of goods sold is an expense charged against sales to work out a gross profit (see definition below). So, for example, we may have sold 100 units this year at $4 each, and these 100 units that we sold cost us $3 each originally.So our sales would be $400 and our cost of the goods we sold (cost of sales) would amount to $300. This would result in a gross profit of $100 (sales minus cost of sales).Cost of goods sold is not the same as purchases, as you will see from our examples below.ost of goods sold is an expense charged against sales to work out a gross profit (see definition below). So, for example, we may have sold 100 units this year at $4 each, and these 100 units that we sold cost us $3 each originally.
Cost of goods sold, sometimes referred to as cost of sales or COGS, refers to the cost of products manufactured and sold or purchased and re-sold by the company. These costs of sales are an expense of the business and they reduce the profit the company makes on selling the products. Cost of goods sold is determined annually showing changes from the beginning to the end of the company's fiscal (financial) year, and it is included in the company's business tax return as an expense.