video1.0<iframe src="https://www.loom.com/embed/08bfa4ffafaa4140b3e095f4c60a69ca" frameborder="0" width="1920" height="1440" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>14401920Loomhttps://www.loom.com14401920https://cdn.loom.com/sessions/thumbnails/08bfa4ffafaa4140b3e095f4c60a69ca-00001.gif1157.99In this video, I will explain the concept of cost of goods sold (COGS) specifically for companies that deal with tangible products. I will cover the importance of tracking inventory and how it relates to the income statement. We will explore the different components that make up COGS, including raw materials, packaging, labor, and overhead costs. I will also provide insights on how to determine what should be considered as COGS and what should be categorized as expenses. By the end of this video, you will have a clear understanding of how to calculate and manage COGS for your tangible product business.