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Sir please state difference between:
CoGS and Cost of Sale.
COGM and Total production cost.I assume CoGS = Cost of goods sold. This is the same as Cost of sale.
COGM is, I assume, cost of goods made. There are two versions of that:
Marginal cost: this includes only the variable cost of cost of the goods made.
Total absorption cost: in addition to marginal cost, this includes the fixed production overheads. That is almost certainly what is meant by ‘total production cost’.
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