Is the cost of goods sold an example of qualitative data?

The cost of goods sold is classified as quantitative data rather than qualitative. Quantitative data refers to numerical values that can be measured and analyzed statistically, allowing for objective assessment of financial performance. The cost of goods sold is presented as a specific dollar amount that represents the direct costs attributable to the production of the goods sold by a company.

In contrast, qualitative data refers to descriptive information that cannot be measured in terms of numbers. This type of data often encompasses characteristics, attributes, or categories that are used to understand qualities and concepts.

While context can influence how data is used or interpreted, the nature of cost of goods sold as a numerical figure firmly categorizes it as quantitative data. Other options suggesting a dependency on context or qualitative analysis do not accurately represent the fundamental nature of cost of goods sold.