How to calculate and record cost of goods sold | Run your business
Learn more about the cost of good sold: https://intuit.me/2Vk4isU
It is essential to calculate the cost of goods sold (COGS) when you are a product-based small business. In this video, Astrid Daniela Galvez (QuickBooks ProAdvisor and Tax Specialist) shows you how to calculate and utilize COGS to maximize your business profit.
00:00 – Introduction
01:17 – What is cost of goods sold (COGS)?
01:51 – Why is the cost of goods sold important?
02:51 – How to calculate the cost of goods sold
03:26 – How to use the cost of goods sold
04:45 – Using QuickBooks to calculate COGS
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