COGs in Business, otherwise known as “Cost of Goods Sold,” is a figure that takes into account all the costs associated with making and selling products or services. This includes all direct expenses to produce finished goods, like raw materials, labor costs, shipping fees and any other costs related to bringing a product to market. By understanding the components of COG in Business, it helps businesses maximize their profits and better plan for potential budget changes. It’s an essential part of running a successful business – so make sure you have a clear handle on your COGs!