Cost of Inventories vs. COGS

[accounter182]

Hi guys I have question about the difference of costs of inventories recognized as expense and COGS.

In the last annual report the company "Next" (I cannot post links - sorry)
reported COGS of 2500 (page 73) but costs of inventories recognized as an expense of 1363.5 (page 83 of the annual report under Note 3).Why is there such a difference to COGS?

Also, "costs of inventories recognized as an expense" also include some of the wages (labour directly attributable to the product) or is this just "material costs"?

Thanks for your help!

 

[gazmentsaci]

The direct costs attributable to the production of the goods sold by a company. This amount includes the cost of the materials used in creating the good along with the direct labor costs used to produce the good. It excludes indirect expenses such as distribution costs and sales force costs. COGS appears on the income statement and can be deducted from revenue to calculate a company's gross margin. Also referred to as "cost of sales."