Cost of Goods Sold

Cost of goods sold or COGS refer to the carrying value of goods sold during a particular period of time . Costs are associated with particular goods using one of several formulas, including specific identification, first-in first-out, or average cost.

Variable Costing System

Variable Costing System A Decision Making Tool for Management: After studying this chapter you should be able to: Explain how variable costing differs from absorption costing and compute unit product costs under each method Prepare income statements using variable and absorption costing. Reconcile variable