Why is my account showing COS as against COGS? are they same? I have included product cost prices in creating my inventory.

I have just the information you'll need on how COS and COGS accounts posted in QuickBooks, @ngozimonye-yahoo.

You'll use the Cost of Sale account if you don't stock and sell an inventory type items. Use the COGS account for your inventory sales items.

In your case, you'll want to make sure you're using the correct sales of product income account for your inventory sales items. Let me walk you through how.

1. Go to Gear, then Products and services.
2. Find the item in question, then Edit.
3. Then, change the Income account of your inventory item (see image below).
4. Click Save and close.

With these steps, you're able to correctly report your inventory sales item and your COGS account. Then, pull up the Product/Service List report to view your product's cost and prices. Just go to Reports, then Product/Service List. 

We also  have a guide on using reports to see your sales inventory status which I'm sure you'll find helpful. It has details that'll help you see your best sellers, what's on hand, the cost of goods and more.

You can always swing by anytime if you have other questions or concerns. Don't hesitate to reach out anytime. Thanks for coming in today and I wish you have a great weekend ahead.