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stopattheoffice
March 27, 2022
Question

Where does Cost of Goods Sold expense amount come from?

  • March 27, 2022
  • 1 reply
  • 0 views
Is the Cost of Goods sold expense taken from the Product Cost in the Inventory?

1 reply

PrachiJoshi
PrachiJoshi
March 28, 2022

Yes, on first in first out basis.

S
stopattheofficeAuthor
March 28, 2022

Thank you for your reply. To clarify how the First in First Out works then, is the cost of goods sold expense coming from the first supplier invoice that paid for the inventory being sold? Or is the COGS expense coming from the Product and Services list, Purchasing Cost field? Thanks, Ruth

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