Difference Between Cost and Expense

What is the difference between cost and expense? Certainly it is a difficult and confusing question - Confusing because both the terms cost and expense are used interchangeably and difficult because no body has explained it in simple words. But now confusion is over because I will explain both these terms in simple words with a simple example ---
Please see the above ferrari and let`s suppose that LALIT Bhojwani had bought a Ferrari car on 16, January 2010 therefore ₹ 2,50,00000 was the cost for Lalit Bhojwani that was going to expire. And a year later on 16, January 2011, the Ferrari car was sold by Lalit BHojwani in ₹ 1,50,00000. It means the ferrari car depreciated ₹ 1,00,00000 and this ₹ 1,00,00000 was the expired cost for Lalit Bhojwani and that ₹ 1.00.00000 was expense for Lalit Bhojwani.
In property business if you purchase only land than that is the cost that will not expire because land does not depreciate. If your company purchases land for some uses than it is an asset for the company and will never become expense because land does not depreciate.
Always remember Cost of Goods Sold = Expenses. (Though both are used interchangeably)

In short and simple words -----
COST = The resources we sacrificed and is going to expire
Expense = The sacrificed resources that has been expired.

A cost can be either an asset, or an expense or both. In above example ₹ 2,50,00000 was both for Lalit Bhojwani an asset and an expense. But expense can only be expired cost not an asset. In above example in above ₹ 1,00,00000 was the expired cost for Lalit Bhojwani.
In your factory electricity bill is cost but goods of factory sold this cost of electricity becomes expense.