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Cost of Goods Sold
The straight-out costs connected to generating the products a company sells, involving materials and labor force.
Selling and Administrative Expenses
the combined total of all costs associated with selling a company’s products and managing the company, excluding direct costs of producing goods or services.
Period Costs
Expenses that are not directly tied to product production and are recorded as expenses in the period in which they are incurred, such as selling and administrative expenses.
Value Chain
The full range of activities that businesses go through to bring a product or service from its conception to its end use by consumers.
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