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    schellie's Avatar
    schellie Posts: 1, Reputation: 1
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    #1

    Dec 3, 2009, 10:20 PM
    Net sales vs cost of goods sold
    Is the cost of goods sold the same as net sales? I am practicing the gross profit method for estimating inventory
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    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.

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