Is cost of Goods Sold is debited to close the account during the closing process?

No, Cost of Goods Sold (COGS) is not debited to close the account during the closing process. Instead, it is typically recorded as an expense on the income statement, which reduces net income. At the end of the accounting period, the net income or loss is then transferred to the retained earnings account through the closing entries. COGS itself is not closed but rather affects the calculation of net income that is subsequently closed.