What is cost of goods sold (COGS)?

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QBO 2022: What is COGS (cost of goods sold)?

In this video, listen to advice and get a live demo from expert James Griner of Waterford Business Solutions explain what cost of goods sold in this part one of a two part series. In this first part, James addresses the various definitions and tax filing requirements surrounding cost of goods sold. Watch as he breaks down the the IRS and standard definitions of COGS as well as the type of reports you’ll need to have for your upcoming tax filing.

In this video, we cover:

  • IRS definition
  • Tax filing
  • Standard definition
  • Company reporting
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