COGM
Business & Finance abbreviation · Accounting
| Stands for | Cost of goods manufactured |
|---|---|
| Categories | Business & Finance |
COGM stands for Cost of goods manufactured, an accounting abbreviation.
Total production cost of goods completed during a period in a manufacturing company, including direct materials, direct labor and manufacturing overhead, adjusted for changes in work-in-process inventory. COGM feeds into cost of goods sold.
Example: COGM for the quarter was $14.2 million, and finished-goods inventory rose by $1.1 million.
Usage notes
The usual formula is total manufacturing cost plus beginning work in process minus ending work in process. Cost of goods sold then equals COGM plus beginning finished goods minus ending finished goods. COGM schedules are standard in cost accounting courses and internal management reports.
Related abbreviations
More accounting abbreviations
- BEP – Break-even point
- BV – Book value
- CECL – Current expected credit losses
- CFS – Cash flow statement
- CM – Contribution margin
- COA – Chart of accounts
- COGS – Cost of goods sold
- COS – Cost of sales
- COSO – Committee of Sponsoring Organizations of the Treadway Commission
- Cr – Credit
- CVP – Cost-volume-profit analysis
- CY – Calendar year