The Inventory-Cost Connection: Figure Out Cost of Goods Sold In order to figure out your profit or loss for a period, you need to know several key figures. One of the most crucial is the cost of goods sold; with that number, you can calculate your gross profit and begin to get down to the … Read more
The Inventory-Cost Connection: What Goes into Inventory Costs? The whole point of your inventory is selling it. The point of selling it is to make some money. In order to actually make a profit by selling your inventory, you have to know how much it really costs to make every item so you can set … Read more
The Inventory-Cost Connection: Inventory Transforms into Cost of Goods Whether you are a manufacturer, a wholesaler, or a retailer, you sell some kind of product. When you sell some kind of product, first you have to create or buy it. The products you have on hand, the ones that you intend to sell to your … Read more
