Business

Janiyah Alvarado

17 February, 16:59

Which of the statements below are correct regarding cost of goods sold?

Cost of goods sold is the price received from selling a product.

Cost of goods sold is an asset account reported on the balance sheet.

Cost of goods sold is the expense of buying and preparing merchandise.

Cost of goods sold can be determined by subtracting the cost of a merchandise sold from its sales price.