How does TT calculate COGS? I have entered the begining inventory, cost of purchases for the sold goods this year. TT automatically seems to calculate COGS?
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1 Best answer
Anonymous_
Level 15
Apr 6, 2022 8:34:36 AM
The program adds your beginning inventory and your purchases and then your ending inventory is subtracted from that total.
The basic formula never changes:
Beginning inventory + purchases − ending inventory = cost of goods sold
1 Replies
Anonymous_
Level 15
Apr 6, 2022 8:34:36 AM
The program adds your beginning inventory and your purchases and then your ending inventory is subtracted from that total.
The basic formula never changes:
Beginning inventory + purchases − ending inventory = cost of goods sold