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Net sales vs cost of goods sold
schellie
Dec 3, 2009, 10:20 PM
Is the cost of goods sold the same as net sales? I am practicing the gross profit method for estimating inventory
pready
Dec 4, 2009, 11:31 AM
No, net sales is gross sales less sales returns and sales discounts.
Cost of goods sold is cost of your inventory that has been sold.