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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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

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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

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