Isn't there any cost of goods sold or cost of service for financial products?

[Enlighten_me]

For those who havethe 2016 CFA level 2 volume 2 book, solution #8 in page 18, mentions that financial products are excluded from the calculation of gross profit.
1) I am just wondering- isn’t there any cost of goods sold or cost of service for financial products?
2) If there is, is it also ignored when solving for gross profit in real life?

 

[S2000magician]

COGS: nope.
Pure services don’t have COGS. Nor Inventory.

 

[Enlighten_me]

S2000magician wrote:
COGS: nope.
Pure services don’t have COGS. Nor Inventory.

Thanks for the clarifiication.

 

[S2000magician]

You’re quite welcome.