jwolthuis - 5:28 pm on Jul 2, 2011 (gmt 0)
Revenue minus COGS equal Gross Profit/Loss.
Examples of Revenue:
- Product sales
- Shipping collected from customers
Examples of COGS:
- Product costs
- Shipping costs
It makes no difference where the cost of shipping is/is-not placed.
Your Revenue is the total collected on the order (products + shipping). Your COGS is the payments you make to your suppliers + shippers. The difference between the two is gross profit/loss.