Why my Cost of Goods Sold is limited to $2933?
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New Member

Why my Cost of Goods Sold is limited to $2933?

My Cost of Purchase is $25109, but when I submit it the Cost of Goods Sold only shows $2933. This increases my gross profit drastically. Can you please advice?

2 Replies
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Level 15

Why my Cost of Goods Sold is limited to $2933?

The ending inventory is what determines how much gets sent to COGS.

So Beginning inventory

plus purchases

less ending inventory

= COGS

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New Member

Why my Cost of Goods Sold is limited to $2933?

Thank you. That was the issue. It seemed like it didn't ask me for the End of Year Inventory first time around.
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