Our app can help automate your financial reporting, including your Cost of Goods Sold data, giving you more time to focus on growing your business. You must charge more for your product than it costs you to create, and accurate financial reporting is key to achieving that goal. Gross profit margin is a ratio used to measure a company’s financial health by revealing the amount of money left over from sales after deducting the cost of goods sold.Īs you begin to grasp how to calculate your company’s Cost of Goods Sold, you will also start to understand the crucial role it plays in your business’s profitability.
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