Homework Answers
Respected Sir / Madam
Option 1 is correct
Since COGS is a cost of doing business, it is reported on the income statements as a business expense.
In other terms, COGS represents the total cost of producing goods or services bought by consumers during the year.
COGS shall be defined as expenses directly related either to the commodity or to the goods sold by the business or to the purchase of inventories for distribution to customers.
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