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Cost of Goods Sold
The cost of goods sold (COGS) is the direct cost attributable to the production of goods sold by a company, including the cost of materials and labor.
Period Costs
Costs that are expensed in the period in which they are incurred; they are not tied directly to the production process and include items like sales, general, and administrative expenses.
Manufacturing Company
An entity engaged in the production of goods by combining raw materials and components in an industrial process.
Work in Process Inventory
Work in process inventory consists of partially finished goods that are still in the production process at a given point in time.
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