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2 resources from ledgergurus.com we point founders to, and the questions each answers.
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Beginner
An ecommerce-accounting firm's step-by-step COGS formula, useful as the accounting-correct companion to the more operational landed-cost guides.
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by LedgerGurus
- COGS = Beginning Inventory + Purchases - Ending Inventory
- Extended formula adds freight-in, subtracts discounts and returns
- COGS drives gross profit on your P&L directly
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Intermediate
Goes deeper than the beginner explainers on how landed cost flows into inventory accounting and eventually into COGS when a unit sells.
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ledgergurus.com
by LedgerGurus
- Landed cost sits on the balance sheet until the unit sells
- At sale, landed cost per unit moves into COGS on the P&L
- Getting this wrong distorts both inventory value and margin
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