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Don’t Start a Business Without Knowing This: The Truth About Cost of Goods Sold COGS
What Is Cost of Goods Sold (COGS)? Why Every Business Owner Must Understand It
If you run a business—whether you're selling on Amazon, running a Shopify store, or even managing a traditional brick-and-mortar shop—you must understand Cost of Goods Sold (COGS). Why?
Because knowing how to calculate COGS isn't just about crunching numbers—it’s about understanding how much money you’re really making.
COGS is one of the most important accounting metrics that affects your profits, taxes, pricing strategy, and even inventory management. Yet so many business owners and aspiring entrepreneurs ask the same thing:
- What is cost of goods sold?
- How to calculate cost of goods sold?
- Is cost of goods sold an expense?
- What does cost of goods sold mean?
What is Cost of Goods Sold? The Foundation of Your Business’s Profitability
Cost of Goods Sold (COGS) refers to the direct costs of producing the goods or services a business sells during a specific period. These costs include raw materials, labor, and manufacturing expenses but exclude indirect costs like marketing or rent. Understanding what is cost of goods sold is critical for business owners because it directly impacts your gross profit and, ultimately, your bottom line.For example, if you run a coffee shop in the US, your COGS would include the cost of coffee beans, milk, sugar, and the wages of baristas preparing the drinks. In contrast, the rent for your shop or the cost of advertising on social media wouldn’t count as COGS. Knowing this distinction helps you answer, Is cost of goods sold an expense?
Yes, it’s an expense—but a specific one tied directly to production. By mastering COGS, you can:
- Accurately calculate your profit margins.
- Identify areas to cut costs without sacrificing quality.
- Make informed pricing decisions to stay competitive in markets like the US, UK, or Australia.
Why Should You Care About COGS?
Whether you’re a seasoned retailer in New York or a startup owner in London, understanding how to find cost of goods sold is essential for several reasons:
1- Profitability Analysis: COGS directly affects your gross profit, which is calculated as: Gross Profit = Revenue – COGS. A lower COGS means higher profits.
2- Tax Deductions: In many countries, including the US and UK, COGS is deductible, reducing your taxable income.
3- Pricing Strategy: Knowing your COGS helps you set prices that cover costs while remaining competitive.
4- Inventory Management: Tracking COGS helps you monitor inventory levels, avoiding overstocking or shortages.
For instance, a UK-based clothing retailer might notice rising fabric costs impacting their COGS. By analyzing this, they can negotiate better supplier deals or adjust prices to maintain profitability in GBP.
How to Calculate Cost of Goods Sold: The Simple Formula
Let’s get to the heart of the matter: how to calculate cost of goods sold. The cost of goods sold formula is straight forward: COGS = Beginning Inventory + Purchases During the Period – Ending Inventory Here’s a step-by-step guide to make it crystal clear:
1- Determine Your Beginning Inventory: This is the value of your inventory at the start of the accounting period (e.g., January For example, a US bakery might start the year with $10,000 worth of flour, sugar, and other ingredients.
2- Add Purchases During the Period: Include all costs related to acquiring or producing additional inventory, like raw materials or direct labor. If the bakery buys $5,000 more supplies in January, this is added to the equation.
3- Subtract Ending Inventory: At the end of the period (e.g., January 31), calculate the value of unsold inventory. If the bakery has $3,000 left, subtract this amount.
4- Calculate COGS: Using the formula:
COGS = $10,000 (Beginning Inventory) + $5,000 (Purchases) – $3,000 (Ending Inventory) = $12,000
This $12,000 represents the bakery’s COGS for January, reflecting the cost of goods sold to generate revenue.
How to Find Cost of Goods Sold in Different Business Models
The process of how to find cost of goods sold varies slightly depending on your business type:
1- Retail Businesses: For retailers, COGS includes the cost of purchasing products from suppliers. A US-based electronics store, for example, would count the wholesale price of phones or laptops.
2- Manufacturing Businesses: Manufacturers include raw materials, direct labor, and factory overhead. A UK car parts manufacturer would factor in steel, assembly line wages, and machine maintenance costs.
3- Service-Based Businesses: Service businesses may not have traditional inventory, but COGS can include labor costs for service delivery. A freelance graphic designer in Australia might include software subscriptions or printing costs as COGS.
By tailoring your COGS calculation to your business model, you ensure accurate financial reporting, whether you’re dealing in USD, GBP, or AUD.
Is Cost of Goods Sold an Expense? Clearing Up the Confusion
A common question is, “Is cost of goods sold an expense?” The answer is yes, but it’s a specific type of expense. COGS is classified as a direct expense on your income statement, distinct from operating expenses like rent or utilities. This distinction matters because COGS directly ties to revenue generation,
making it a critical metric for assessing business efficiency. For example, a Canadian e-commerce store selling handmade jewelry would list the cost of beads, wires, and packaging as COGS,
while their website hosting fees would fall under operating expenses. Understanding this helps you optimize both direct and indirect costs.
Common Mistakes to Avoid When Calculating COGS
Even seasoned business owners can stumble when calculating COGS. Here are pitfalls to watch out for:
1- Mixing Up Direct and Indirect Costs: Don’t include expenses like marketing or office supplies in COGS. Stick to costs directly tied to production.
2- Inaccurate Inventory Counts: Errors in beginning or ending inventory can skew your COGS, leading to faulty financial decisions.
3- Ignoring Currency Fluctuations: If you operate internationally, account for exchange rates (e.g., USD to EUR) when calculating purchases.
4- Overlooking Labor Costs: For manufacturers or service providers, direct labor (e.g., wages for production workers) must be included in COGS.
By avoiding these mistakes, you’ll ensure your COGS calculations are accurate and actionable.
Pro Tips to Optimize Your COGS and Boost Profits
Now that you know how to calculate cost of goods sold, let’s explore ways to optimize it:
- Negotiate with Suppliers: Bulk discounts or long-term contracts can lower raw material costs, whether you’re in the US or Australia.
- Streamline Production: Invest in efficient processes to reduce labor or manufacturing expenses.
- Monitor Inventory Closely: Use inventory management software to avoid overstocking, which ties up capital and increases COGS.
- Analyze COGS Regularly: Track COGS monthly or quarterly to spot trends and adjust strategies, ensuring profitability in any currency.
For instance, a small business in London might switch to local suppliers to reduce shipping costs, lowering their COGS and boosting profits in GBP.
Ready to Take Control of Your Business Finances?
Understanding what is cost of goods sold and how to calculate cost of goods sold is more than just number-crunching—it’s a game-changer for your business.
cost of goods sold formula, you can make informed decisions that drive profitability and growth. Whether you’re a retailer in the US, a manufacturer in the UK, or a service provider in Australia,
COGS is your key to financial success.
Your Profits Are Hiding in Plain Sight—Start Tracking COGS the Smart Way with BYDFi!
2026-01-16 · a month ago0 0396How to Fix a Restricted Capital One Account in 5 Steps
Introduction: Regaining Control of Your Restricted Account
Imagine logging into your Capital One app to pay a bill or transfer crypto, only to see “this account is currently restricted Capital One.” Panic sets in—why is your account locked, and how do you fix it? Whether you’re a small business owner, a crypto trader, or managing daily expenses, a restricted account disrupts your life. The good news? Resolving a Capital One account restricted issue is manageable with the right steps. This guide walks you through why restrictions happen, how to unlock your account, and tips to prevent future lockouts, so you can get back to your finances fast.
Step-by-Step Guide: Unlocking Your Capital One Account
Follow these steps to address a restricted account and restore access:
- Understand Why Your Account Is Restricted
Asking “why is my Capital One account restricted”? Common triggers include suspicious transactions (e.g., a $1,000 crypto purchase flagged as unusual), multiple failed logins, overdue payments, or regulatory checks, per Capital One’s support page. Restrictions protect against fraud but can stem from simple errors, like outdated contact info. Check your email or Capital One app for alerts explaining the issue. For crypto users, frequent transfers to exchanges like Binance may raise flags. Knowing the cause helps you prepare for the next steps.
- Contact Capital One Support Immediately
To resolve “this account is currently restricted Capital One,” call Capital One at 1-800-227-4825 (U.S., as of May 2025) or check your account dashboard for a dedicated number. Have your account details, recent transactions, and ID (e.g., driver’s license) ready to verify your identity. Support may ask about flagged activities or request documents. Most restrictions are lifted within 24–48 hours after verification, but delays can occur for complex cases. Crypto traders should clarify transaction purposes to avoid misflags.
- Address Specific Issues
If the restriction is due to overdue payments, settle your balance via another account or payment method. For fraud alerts, confirm legitimate transactions (e.g., a DeFi transfer). If it’s a compliance issue, provide requested documents like proof of address. How to unlock restricted Capital One account? Quick action is key—delays can prolong restrictions. Keep records of communications. If unresolved, escalate to a supervisor for clarity, as some cases involve regulatory reviews.
- Prevent Future Restrictions
Avoid future “Capital One account restricted” notices by updating contact info regularly, enabling two-factor authentication, and using strong passwords. Notify Capital One before large transactions (e.g., crypto deposits) or travel to prevent fraud flags. Monitor accounts via the Capital One app and respond to alerts promptly. Crypto users should use trusted platforms like OKX to minimize suspicious activity. Regular checks reduce restriction risks, keeping your funds accessible.
- What If It’s Still Restricted?
If support doesn’t resolve the issue, request a detailed explanation. Ongoing investigations (e.g., anti-money laundering checks) may delay access. Document all interactions and follow up every 48 hours. For urgent needs, use alternative accounts. Persistent issues are rare but may require legal advice if funds are significant. Stay patient and proactive to regain control.
Conclusion: Take Charge of Your Capital One Account
A Capital One account restricted notice is stressful, but these steps—understanding the cause, contacting support, addressing issues, and preventing recurrences—can restore access quickly. Whether you’re paying bills or trading crypto, proactive security keeps your finances smooth. Always verify suspicious alerts and use trusted platforms. Want to boost your financial security or explore crypto? Visit BYDFi for tutorials, tips, and tools to manage your money and digital assets confidently.
2026-01-16 · a month ago0 0427- Understand Why Your Account Is Restricted
Shopping Smarter in 2025: Should You Get the Nordstrom Credit Card?
Thinking about upgrading your shopping game?
You’ve probably heard whispers about the Nordstrom Card , but is it really worth it? If you love fashion, frequent sales, and insider perks, the answer is a huge YES. Whether you're curious about the Nordstrom Visa Card, want to manage your Nordstrom account online, or just wondering,
Where do I find my Nordstrom Note number and access code? — this guide has you covered.
Why It’s a Shopper’s Secret Weapon
The Nordstrom Card is more than just a credit card it’s your golden ticket to exclusive savings, early access to sales, and bonus Nordstrom Notes (aka, free money for shopping!). You can choose between two types: Nordstrom Retail Card – can be used only at Nordstrom, Nordstrom Rack, and Nordstrom.com. Nordstrom Visa Card , can be used anywhere Visa is accepted, and earns points even outside of Nordstrom stores. With every purchase, you rack up points that turn into Nordstrom Notes — basically shopping credits. That’s real value for fashion lovers!
The Nordstrom Visa Card is a smart choice in 2025 for:
Frequent Nordstrom Shoppers:
If you regularly shop at Nordstrom, Nordstrom Rack, or affiliated stores and can leverage perks like early sale access, alterations credits, and the 5% Rack discount.
Nordy Club Enthusiasts:
Those who want to maximize Nordy Club benefits, especially if you’re close to or can achieve Ambassador or Icon status.
Disciplined Spenders:
If you pay off your balance monthly to avoid the high APR, the no-annual-fee structure and rewards make it cost-effective.
Travelers or Visa Users:
The Visa Signature benefits (e.g., travel insurance, no foreign transaction fees) add value for those who shop internationally or want purchase protections.
Tips to Maximize Your Nordstrom Notes Like a Pro
Once you start earning Nordstrom Notes, it’s time to make the most of them. These are essentially shopping credits — but smart shoppers know how to stretch their value even further.
1. Stack Notes with Sale Events
Use your Notes during big Nordstrom sales like the Anniversary Sale or Clear the Rack events , this way, you're using free money on already discounted items — double the savings!
2. Use Notes on High-Value Purchases
Save your Notes for more expensive items like designer shoes, bags, or beauty sets ,this way, you're using free money on already discounted items — double the savings!
3. Combine with Nordstrom Promotions
Look out for promo codes or special deals that let you stack discounts , for example, a site-wide 20% off plus $20 in Notes can mean big savings.
4. Check Your Expiration Dates
Nordstrom Notes do expire, so don’t let them go to waste. Set a reminder or check your Nordstrom account dashboard regularly to track available rewards.
5. Shop Across Channels
You can use your Nordstrom Notes in-store, online, or at Nordstrom Rack. Be strategic , some outlet deals are already deeply discounted, so adding Notes makes them a steal.
6. Join Nordy Club Events
During Nordy Club bonus point days or member-exclusive events, you can earn even faster and spend your Notes where they matter most.
Final Thoughts: Should You Apply for the Nordstrom Card?
If you shop Nordstrom even a few times a year, the Nordstrom Card pays for itself with bonus rewards, exclusive discounts, and serious VIP treatment. Whether you're just browsing or looking to apply for the Nordstrom Visa Card today
it’s a smart move for anyone who wants style and savings in one swipe.
2026-01-16 · a month ago0 0602Why People Borrow Money: Understanding Your Options
Why Do People Need to Borrow Money?
Life is unpredictable. From sudden job loss to urgent home repairs, the need to borrow money can arise for countless reasons. Understanding your specific situation—whether you’re dealing with USD, CAD, or another currency—helps determine the best way to borrow money. Common reasons include:
1- Emergencies: Medical bills, car breakdowns, or home repairs.
2- Opportunities: Starting a business, funding education, or seizing a limited-time investment.
3- Debt Consolidation: Combining high-interest debts into a single, manageable loan.
4- Lifestyle Needs: Weddings, travel, or major purchases like appliances.
Whatever your reason, knowing how to borrow money fast while avoiding scams or high-interest traps is crucial. Let’s explore the options.
The Different Ways to Borrow Money: Your Options Explained
When you’re asking, Can I borrow money? , the answer is almost always yes—but the method matters. Below, we break down the different ways to borrow money, ensuring you find the best way to borrow money for your situation.
1. Personal Loans: Flexible and Accessible
Personal loans are a go-to for many borrowers. Offered by banks, credit unions, and online lenders, they provide a lump sum you repay over time with interest.
Pros Fixed interest rates, predictable payments, and wide availability , cons Requires decent credit for favorable terms; processing can take a few days , best For Those with good credit seeking structured repayment.
Tip: Shop around for lenders in your country (e.g., U.S. banks like Chase or online platforms like SoFi). Compare APRs to save money.
2. Credit Cards: Quick but Costly
Credit cards are a fast way to borrow money, especially for smaller amounts. You can use existing cards or apply for new ones with introductory 0% APR offers.
Pros: Instant access to funds, rewards programs , cons: High interest rates (often 15-25% APR) if unpaid within the grace period , best For Short-term borrowing or emergencies under $1,000.
Tip: Look for cards with 0% introductory APR in the U.S. or Canada to avoid interest for 12-18 months.
3. Payday Loans: Fast Cash with a Catch
Payday loans promise quick cash, often within hours, but they come with sky-high interest rates (sometimes 400% APR or more).
Pros No credit check, instant approval , cons Predatory rates, short repayment terms, debt traps , best For: Avoid unless absolutely necessary.
Tip: Explore alternatives like credit unions or borrowing from family first.
4. Home Equity Loans or Lines of Credit (HELOC)
If you own a home, you can borrow against its equity. This is a great option for large expenses like home renovations.
Pros: Lower interest rates, large loan amounts , cons: Risk of foreclosure if you can’t repay; not available to renters , best For: Homeowners with significant equity.
Tip: Check with local banks or credit unions for competitive rates.
5. Borrowing from Friends or Family: A Personal Touch
Asking loved ones for a loan can be a low-cost option, but it requires clear communication to avoid strained relationships.
Pros: No interest or flexible terms , cons: Potential for personal conflicts; no formal contract , best For: Small, short-term loans.
Tip: Draft a simple agreement to outline repayment terms.
6. Peer-to-Peer (P2P) Lending: The Modern Approach
Platforms like LendingClub or Prosper connect borrowers with individual investors.
Pros: Competitive rates, flexible terms , cons : Fees and credit requirements vary , best For: Tech-savvy borrowers with decent credit.
Tip: Research platforms available in your country; U.S. and Canadian options are widely available.
FAQs About Borrowing Money
Can I Borrow Money with Bad Credit?
Yes, options like payday loans, secured loans, or P2P lending cater to lower credit scores, but expect higher rates. Improving your credit before borrowing can save thousands.
How Can I Borrow Money Fast?
Online lenders, credit cards, or borrowing from family are the quickest options. Always compare terms to avoid high costs.
What’s the Cheapest Way to Borrow Money?
Borrowing from friends/family or using a 0% APR credit card (if repaid before the promotional period ends) is often the cheapest.
How to Borrow Money Fast: Tips for Speed and Safety
When time is of the essence, you need solutions that deliver fast cash without compromising your financial future. Here’s how to borrow money quickly and safely:
1- Check Your Credit Score: A higher score (e.g., 670+ in the U.S.) unlocks better rates. Use free tools like Credit Karma to check.
2- Compare Lenders: Use comparison sites like NerdWallet or Finder to find the best rates in your region.
3- Avoid Predatory Lenders: Steer clear of payday loans or lenders with vague terms.
4- Apply Online: Online lenders like Upstart or Avant often approve loans within 24 hours.
5- Prepare Documents: Have ID, income proof, and bank details ready to speed up processing.
Pro Tip: In the U.S., credit unions like Navy Federal or PenFed often offer faster approvals and lower rates than big banks. In Canada, check out providers like Mogo for quick online loans.
Common Pitfalls to Avoid When Borrowing Money
Borrowing money can solve immediate problems, but missteps can lead to long-term headaches. Here’s what to watch out for:
1- High-Interest Traps: Payday loans and high-APR credit cards can spiral into unmanageable debt.
2- Overborrowing: Only borrow what you need to avoid excessive repayment stress.
3- Ignoring Terms: Read the fine print for fees, prepayment penalties, or variable rates.
4- Scams: Be wary of lenders asking for upfront fees or personal information without clear credentials.
Did You Know? In 2023, the U.S. Consumer Financial Protection Bureau reported that 1 in 5 payday loan borrowers defaulted, highlighting the risks of predatory lending.
How to Choose the Best Way to Borrow Money for You
Amount Needed: Small sums ($500-$2,000) may suit credit cards or family loans; larger amounts ($10,000+) may require personal loans or HELOCs.
Repayment Timeline: Short-term needs favor credit cards; long-term needs suit personal loans.
Credit Profile: Poor credit may limit you to payday loans or P2P lending.
Urgency: For instant cash, credit cards or online lenders are fastest.
Example: If you’re a U.S. resident needing $5,000 for a medical bill, a personal loan from a credit union with a 7-10% APR could be ideal. For a Canadian needing $1,000 for car repairs, a 0% APR credit card might work if repaid quickly.
Final Thoughts: Make Borrowing Work for You
Borrowing money doesn’t have to be stressful. By understanding the different ways to borrow money and aligning them with your needs, you can secure funds quickly and affordably. Whether you’re in the U.S., Canada, or elsewhere, always prioritize reputable lenders, compare rates, and read terms carefully. Ready to take the next step? Start by checking your credit score and exploring trusted lenders in your area to find the best way to borrow money for your unique situation.
2026-01-16 · a month ago0 0783Slash Your Shopping Bill: The Voucher Code Hack Every Online Shopper Needs!
You know that feeling when you’re about to hit “buy” on a cart full of goodies, but the total makes your heart sink? That was me, staring at a hefty bill for new sneakers and home decor on ASOS . Then, I stumbled on a voucher code that slashed 20% off my order in seconds. It felt like finding money in my pocket! If you love shopping online in the US, UK, or anywhere else, voucher codes are your ticket to saving big on everyday buys. Let’s dive into how they work and how you can score the same deals.
Context: What Is a Voucher Code for Online Shopping?
When checking out on websites like Amazon, Walmart, or Zara, a voucher code is a special combination of letters and numbers that you enter to get discounts, free shipping, or exclusive deals. These codes are similar to digital coupons that help you stretch your budget if you're a casual shopper or bargain hunter in the US, UK, or elsewhere. However, how can one use them without getting burned and where can one find them?
Climax: The Quest for the Best Deals
Saving money online feels like a treasure hunt. I scoured X for retailer posts, checked email newsletters, and browsed trusted coupon sites like RetailMeNot. Some voucher codes offered 10% off; others gave free delivery. The challenge? Codes can be region-specific (e.g., US-only) or expire quickly. My big win came with a verified code from Target’s newsletter, instantly dropping my bill by $15.Resolution: How to Use Voucher Codes Like a ProHere’s how you can save on everyday online buys:
1. Visit Retailer Sites: Check the “Promotions” tab on stores like Macy’s or eBay.
2. Use Coupon Aggregators: Platforms like Honey or Coupons.com list verified coupon codes.
3. Sign Up for Newsletters: Brands often send exclusive promo codes to subscribers.
4. Stay Safe: Avoid shady sites promising “unlimited codes” to protect your data.Pro tip: If a voucher code doesn’t work, check its terms—some require a minimum spend or are category-specific (e.g., electronics only).
That first voucher code win taught me that small savings add up, whether you’re buying clothes, gadgets, or groceries online. Understanding coupon code meaning unlocks a world of deals. Start hunting for codes today to make every purchase a steal.
Visit RetailMeNot or Honey to grab the latest voucher codes and save on your next online shopping spree!
2026-01-16 · a month ago0 0512
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