Definitions for "COST OF GOODS"
The direct cost involved with the manufacture and packaging of a specific product.
The direct costs associated with the manufacturing and packaging of a specific product.
The cost of items purchased for use in manufacturing or product for resale.
To a food and beverage buyer at a hotel: Cost of item as a percent of total price charged to consumer. For example, a food and beverage buyer will describe a bottle of beer that cost $1 and is sold for $4 as having a 25 percent cost of goods.
The daily, weekly, monthly or yearly total dollar amount of all inventoried items that have been used in the restaurant.
sold - The actual cost of the items sold in the normal course of business during a specific period.