Calculating COGS. do I include shipping costs in COGS?

ashnictho09 — Sat, 01 Jun 2019 02:02:29 GMT

I do not know the exact amount my inventory is worth. Is it ok to estimate?

Yes, you include shipping costs in COGS and to the extent...

bwa — Sat, 01 Jun 2019 02:02:29 GMT

Yes, you include shipping costs in COGS and to the extent material, in the computation of ending inventory.

It's not what inventory is "worth", it's what it cost. If you don't know the exact amount you have no choice but to come up with a conservative estimate of inventory cost.

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Calculating COGS. do I include shipping costs in COGS?

Yes, you include shipping costs in COGS and to the extent...