What is Cost of products (goods, work, services) sold?

The cost attributable to finished products, goods, work and services sold in the reporting period. On sale, it is recorded on the debit of account 9110, 9120 or 9130 in correspondence with the finished goods (2800) or goods for resale (2900) accounts. At the end of the period these accounts are closed to 9910. Sales revenue minus the cost of products sold gives gross profit.