What COST OF GOODS SOLD means: Beginning inventory plus direct purchases, direct labor costs, and overhead costs less withdrawals for personal use and ending inventory. Sole proprietors compute their cost of goods sold in Part III of Schedule C.
- Definition Convertible:
- Dictionary A bond or preferred stock that may, under specified conditions, be exchanged for common stock or another security, usually of the same corporation cost of goods sold definition.
- Definition Contract Price:
- Dictionary installment sale, one of the amounts used to compute the percentage of each principal payment that is taxable as gain. The contract is equal to the gross selling price when no mortgages are assumed cost of goods sold explain.
- Definition Constructive Receipt:
- Dictionary taxpayer is taxed on income only as it is received. But if the income was unreservedly subject to his or her demand and he or she could have received it but chose not to do so, it is regarded as cost of goods sold what is.
- Definition Cost Depletion:
- Dictionary recovering the taxpayer's investment in natural resources or timber. The cost is recovered proportionately as the resource is extracted or the timber harvested. Also see "Percentage cost of goods sold meaning.
How works Cost of Goods Sold meaning in Tax definitions C .