Define: Cost Of Goods Manufactured

UK Accounting Glossary

Definition: Cost Of Goods Manufactured


Quick Summary of Cost Of Goods Manufactured


The cost of goods manufactured is a calculation of the production costs of the goods that were completed during an accounting period.



What is the dictionary definition of Cost Of Goods Manufactured?

Dictionary Definition


The cost of goods manufactured (COGM), also called the cost of goods completed, calculates the total value of inventory that was produced during a period and is ready for sale.


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Cost Of Goods Manufactured FAQ's


How do you calculate cost of goods manufactured?
  1. Beginning Inventory of Finished Goods
  2. Add: Cost of Goods Manufactured
  3. Equals: Finished Goods Available for Sale
  4. Subtract: Ending Inventory of Finished Goods
  5. Equals: Cost of Goods Sold

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Cost Of Goods Manufactured. PayrollHeaven.com. Retrieved December 11, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/cost-of-goods-manufactured/

Definition Sources


Definitions for Cost Of Goods Manufactured are sourced/syndicated from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 9th August 2019.