Cost of Goods Sold Report

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8 comments

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    Chris Muench

    Could you tell me the formula to calculate cost of goods sold? If we have the data we can add to report

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    RGV BREW

    I export the SALES and then calculate the COGS by subtracting the profit from the Sale amount.

    So the formula is simply SALE minus PROFIT in this case. 

    PHPPOS must be determining PROFIT using the inverse, ie, SALE minus COST and depends upon how Cost is setup in Store Config

     

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    Chris Muench

    Profit is sale - cost. So you are saying COGS is sale - profit

     

    example

    selling price 4

    cost price 1

    profit = 3

     

    COGS = 1?

     

    Does this work for everyone?

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    Cameron Dixon

    Sorry for the late reply, I had asked out bookkeeper a couple of times without a response. This is what she was asking for as quoted, "

    "The report just needs to list the cost price of the stock that was sold.  For your own purposes, it can also show the sales and therefore the profit but I don’t need those as they are recorded in the bookkeeping."

    Is there a current report that shows the cost price of the stock sold? I think the formula above would show that if I were to use it for any given month but am not certain if there is anything available in the current list of reports in your software.

     

    Thanks for checking in on this question, I think it would be a great additional report to offer in the future.

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    Chris Muench

    Lets use this as an example

     

    Item: Tennis Can

    cost price 1.50

    selling price:4

    quantity: 3

    would cost of goods be 4.50? Is that really all that is needed?

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    Cameron Dixon

    Yeah, she says that is all she needs. Is that a worthy report to create? I think it would be helpful to have something like that for many business owners.
    Thanks again for looking into this for me.

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    Chris Muench

    We have added to sales > detailed and items -> summary report for our next release. Do you want it on any other reports?

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    Cameron Dixon

    I think that will be great if it integrated. Thanks so much.

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