Cost of goods sold Account Usage in Oracle Apps

[anjan123]

Hi Folks,

Could some one explain "Cost of goods sold Account" in Oracle Apps.

Regards
Anjan

[niletra]

COGS:

Cost of Good Sold means that How much amount you spend to make the Finish Good Product

this amount is called Cost of Goods Sold


and this account must be expense account


Your

Revenue - COGS = Profit




Thanks

Best Regards,
Niletra Desai