Which of the following expenses would you regard as part of the cost of goods sold?
Packing the goods for delivery to customers
Insurance of goods in the warehouse against fire and theft
Advertising the goods for sale
Insurance and freight on importing goods for sale
Insurance and freight on importing goods for sale would form part of the cost of goods sold.
Cost of goods sold plus operating expenses = __________.
___ is the ratio of cost of goods sold plus operating expenses to net sales.