Cost of Goods Sold Chart of Accounts is an accounting tool used to measure and track the costs associated with goods sold. It is typically divided into two categories: direct costs, which are related to manufacturing or purchasing the goods; and indirect costs, which are related to selling, distributing, and storing the goods. This chart of accounts allows businesses to keep an accurate record of all expenses associated with their goods in order to calculate their total cost of goods sold. Having this information readily available enables business owners to make more informed decisions about what products to purchase, how much to spend on those products, and how much to charge for them.