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Cost of goods sold would be classified as what type account?

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Question added by Mehboob Ali Laghari , Social Mobilization Team Incharge , TRDP-European Union
Date Posted: 2015/07/18
Rajkumar Achuthanandam
by Rajkumar Achuthanandam , Accountant General , Al Hadaf Marketing L.L.C

The cost of goods sold is reported on the income statement and can be considered as an expense of the accounting period. By matching the cost of the goods sold with the revenues from the goods sold, the matching principle of accounting is achieved. Answer: Expense

Rady Ibrahim Mahmoud
by Rady Ibrahim Mahmoud , Accountant , Al-Shams for agricultural production

b- Expense 

It's raise the value of expenses in the income statment 

Ahmed kandil
by Ahmed kandil , Cost Controller , Battour Holding Cpompany

It classified after sale of product as expense .. but before sale the product it classified as a cost ...

Ayoob Cheriya Koroth
by Ayoob Cheriya Koroth , Accountant , Ajmal perfume

COST OF GOODS SOLD IS CLASSIFIED WITH EXPENSE ACCOUNT.

Michael Lagunday
by Michael Lagunday , Accounts Assistant , Invest Group Overseas LLC

The cost of goods sold is reported on the income statement and can be considered as an expense of the accounting period.

Naomi Maree Micallef
by Naomi Maree Micallef , Account Manager , Provided on request

Costs of Goods Sold is an expense

Forchibe Divine Mengeh
by Forchibe Divine Mengeh , Summer internship , Ntambeng Cooperative Credit Union Ltd Bamend

cost of goods sold is classified as an expense account

Imdad Hussain Rajput
by Imdad Hussain Rajput , Assistant Sales Manager , Forego

Cost of goods sold will be classified as EXPENSES

Shahbaz Hayder
by Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

Option2 is the right answer.

Said Shaban
by Said Shaban , Accountant , Tri State Materials Testing

Cost of goods sold are Expense.

Raheel Raza
by Raheel Raza , HRM MANAGER , ufone

B It would be located as an expense.

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