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  3. the cost of goods sold (cogs) must be computed for

The cost of goods sold (COGs) must be computed for sole proprietors who: ...

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Accounting

The cost of goods sold (COGs) must be computed for sole proprietors who:
Make goods to sell or buy goods to resell.
Qualify as small-business taxpayers and choose not to keep an inventory.
Provide services as self-employed, independent contractors.
Are statutory employees.

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