Is Cost of Goods Sold A Contra Revenue Account

No, as Cost of Goods Sold or Cost of Sales is a direct expense account as it is directly related to the cost of production and it is recorded to find out the Gross Income or Gross Profit for the period.

A Contra Revenue Account is the reversal of a revenue account while cost of sales is the direct expense account and it is deducted from Sales to calculate Gross Profit or Gross Income for the period.