When you produce goods like we do your COGS is based on Finished Goods. You figure out how much each unit cost you, (paper, ink, frame, etc) and that's the number you work with. You look at what you have that's incomplete from the previous year as of 1/1/10, add in what you bought during 2010, add in 2010 labor, any overhead if you're doing that and then subtract the unfinished goods as of 12/31/10 and that is your Cost of Goods Manufactured.
You use that to figure out Cost of Goods Sold, or COGS. Finished goods as of 1/1/10, Add in your COGM, subtract finished goods as of 12/31/10.
________________________________________
From: artshow_photo@yahoogroups.com [artshow_photo@yahoogroups.com] On Behalf Of Michael Pearlman [mike.pearlman@gmail.com]
Sent: Tuesday, October 19, 2010 1:51 PM
To: artshow_photo@yahoogroups.com
Subject: Re: [artshow_photo] Quick Books Question
Not sure that I understand. I have a lot of items in Cost of Goods sold
including the costs of all the parts that go into a sale lab the cost of Lab
printing.
Michael
On Tue, Oct 19, 2010 at 10:29 AM, G. Armour Van Horn <vanhorn@whidbey.com>wrote:
>
>
> I've never entered anything like that. I would think you would only
> enter that if you were a reseller, the only category of business in
> which COGS are known. Everyone that is involved in manufacturing of any
> sort calculates COGS after the fact.
>
> Van
>
> On 19/10/2010 10:10, Linares Photography Studio wrote:
> >
> > Hi
> >
> > After these years, I was wondering what you suppose to put when you
> > are entering
> > a new item under cost of goods section.
> >
> > Thanks
> >
> > Oscar Matos Linares
> > 3221 West Pierce #2R; Chicago, IL 60651
> > Telephone: 773-315-6842
> > E-mail: lpstudio@yahoo.com <lpstudio%40yahoo.com> <mailto:
> lpstudio%40yahoo.com <lpstudio%2540yahoo.com>>
> >
> >
>
> --
> ----------------------------------------------------------
> Sign up now for Quotes of the Day, a handful of quotations
> on a theme delivered every morning.
> Enlightenment! Daily, for free!
> mailto:twisted@whidbey.com <twisted%40whidbey.com>?subject=Subscribe_QOTD
>
> For photography, web design, hosting, and maintenance,
> visit Van's home page: http://www.domainvanhorn.com/van/
> ----------------------------------------------------------
>
> [Non-text portions of this message have been removed]
>
>
>
--
*Michael Pearlman*
*ChristopherMichael.com*
[Non-text portions of this message have been removed]
------------------------------------
Donate to support the ArtShowPhoto Forum at
http://artshowphoto.com/support.htm
PLEASE READ....PLEASE TRIM POSTS!!! Keep quoted material short.
Repeat or create accurate subject lines.
If you want to advertise services related to art shows or photography, either in a forum post or on the resource web site, please contact the forum owner for permission.
Resource web site at
http://ArtShowPhoto.com
Yahoo! Groups Links
http://artshowphoto.com/support.htm
PLEASE READ....PLEASE TRIM POSTS!!! Keep quoted material short.
Repeat or create accurate subject lines.
If you want to advertise services related to art shows or photography, either in a forum post or on the resource web site, please contact the forum owner for permission.
Resource web site at
http://ArtShowPhoto.com
0 comments:
Post a Comment