Cost of goods sold

Good day, @conciergeride.

Sharing info here on how to calculate the Cost of goods sold  (COGS) in QuickBooks Online (QBO).

Before anything else, I'd like to know if you encountered some error while calculating your (COGS).

To calculate your (COGS), you must add the beginning of the year to purchases created throughout the year. After that, deduct the remaining inventory cost at the end of the year. 

Then, the result will be the cost of goods sold for your business. Check out this page for additional info: QuickBooks Blog: How to calculate the cost of goods sold. 

On top of that, I recommend reaching out to your accountant to help you with this and avoid book discrepancies.

Additionally, if you want to manually monitor the value of your inventory assets, you can read this article: Track inventory manually in QuickBooks Online.

Click the Reply button for additional COGS-related concerns. I'll be willing to help. Keep safe, and have a good one.