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What is meant by the term cost of sales when buying and selling products?
Wiki User
∙ 12y ago
Cost of Sales is also known as Cost of Goods Sold. Basically it is the cost of purchasing and/or manufacturing the goods sold. Accountants usually calculate with:
Opening Stock + Purchases less Closing Stock.
Purchases would usually equal NET Purchases as you may return some faulty or incorrect goods for example. The value for purchases would usually also include any freight costs incurred in getting the goods to your premises.
Put simply, if you buy a book on eBay for $10 and re-sell it for $20, the Cost of Sales will be $10 + shipping that you paid in the first instance
Wiki User
∙ 12y ago
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What do you understand by the word sales?
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A sales organization defines duties, roles, rights, and responsibilities of sales people engaged in selling activities meant for the effective execution of the sales function.
Definition of sales and marketing?
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How do entrepreneurs succeed in selling products?
by not selling at all but by solving the customer's problems. I was the #1 sales rated person in the US in 1975
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In what type of industry does autotrader partake?
Autotrader is an online marketplace for individuals interested in buying and selling cars. It operates in the car selling and research and sales industry.
Online used car sales?
Autotrader.com specializes in buying and selling used cars. Vehix.com is another good site that specializes in buying used cars.
