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# Cost of Goods Sold

: \$0.00 Mil (TTM As of . 20)
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's cost of goods sold for the six months ended in . 20 was \$0.00 Mil. Its cost of goods sold for the trailing twelve months (TTM) ended in . 20 was \$0.00 Mil.

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin. 's Gross Margin % for the six months ended in . 20 was %.

Cost of Goods Sold is also directly linked to Inventory Turnover.

## Cost of Goods Sold Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

 Annual Data Cost of Goods Sold

 Semi-Annual Data Cost of Goods Sold

## Cost of Goods Sold Calculation

Cost of Goods Sold is the aggregate cost of goods produced and sold, and services rendered during the reporting period. It excludes Total Operating Expense, such as Depreciation, Depletion and Amortization and Selling, General, & Admin. Expense.

For stock reported semi-annually, GuruFocus uses latest annual data as the TTM data. Cost of Goods Sold for the trailing twelve months (TTM) ended in . 20 was \$0.00 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

(:) Cost of Goods Sold Explanation

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin.

's Gross Margin % for the six months ended in . 20 is calculated as:

 Gross Margin % = (Revenue - Cost of Goods Sold) / Revenue = ( - ) / = %

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

A company that has a moat can usually maintain or even expand their Gross Margin. A company can increase its Gross Margin in two ways. It can increase the prices of the goods it sells and keeps its Cost of Goods Sold unchanged. Or it can keep the sales price unchanged and squeeze its suppliers to reduce the Cost of Goods Sold. Warren Buffett believes businesses with the power to raise prices have moats.

Cost of Goods Sold is also directly linked to another concept called Inventory Turnover:

's Inventory Turnover for the six months ended in . 20 is calculated as:

 Inventory Turnover = Cost of Goods Sold / Total Inventories = / 0 = N/A

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher inventory turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate inventory turnover. An average inventory is a better indication.