Calculating COGS. do I include shipping costs in COGS?

[ashnictho09]

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

[bwa]

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.