cost of goods sold
noun[U]
ukus(abbreviationCOGS);(alsocost of sales)ACCOUNTING
theamountofmoneythat acompanyspendsinorderto make andsellproductsin aparticularfinancialperiod, forexample, onwagesandrawmaterials:
Generally,businessesthat makegoodsmaydeductthecostofgoodssoldfromtheirgrossreceiptswhencalculatingbusinessincomefortaxpurposes.