On 5/21/2023 7:26 PM, Jamie Tolbert wrote:
I am slowly wrapping my head around things, kinda stuck on a question
about accounting for unsold inventory. Say I bought 10 widgets, for
100 each, my cost of good sold is 1000; I sold 6 for 140 each. My
sales is 840, but my cost of good sold is only 6
For my inventory I assign a cost per unit (looks like yours is
$100/unit). That is a valid "expense" and can show up either as an
expense item or as a reduction of sales. I assigned mine as a reduction
against sales (sub-account called COGS). The other side of that entry
is against inventory
thank you, that makes much more sense than the method I was
contemplating.
-- Original Message --
From "Murugan Muruganandam"
To "gnucash-user@gnucash.org" ; "Jamie
Tolbert"
Date 5/21/2023 7:47:43 PM
Subject Re: [GNC] cost of goods sold, unsold i
Saludos Cordiales
Murugan
From: gnucash-user
on behalf of
Jamie Tolbert
Sent: Sunday, May 21, 2023 7:26 PM
To: gnucash-user@gnucash.org
Subject: [GNC] cost of goods sold, unsold inventory
I am slowly wrapping my head around things, kinda stuck on a question
about
I am slowly wrapping my head around things, kinda stuck on a question
about accounting for unsold inventory. Say I bought 10 widgets, for 100
each, my cost of good sold is 1000; I sold 6 for 140 each. My sales is
840, but my cost of good sold is only 600, not 1000, How do I account
for the 4 re
