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 This content is for information purposes only and should not be considered legal, accounting or tax advice, or a substitute for obtaining such advice specific to your business. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Intuit Inc. does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. Intuit Inc. does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them. Click for the latest updates...Summit Team
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