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  2. Cost of goods sold - Wikipedia

    en.wikipedia.org/wiki/Cost_of_goods_sold

    Cost of goods purchased for resale includes purchase price as well as all other costs of acquisitions, [7] excluding any discounts. Additional costs may include freight paid to acquire the goods, customs duties, sales or use taxes not recoverable paid on materials used, and fees paid for acquisition.

  3. IAS 2 - Wikipedia

    en.wikipedia.org/wiki/IAS_2

    Cost not only includes the purchase cost but also the conversion costs, which are the costs involved in bringing inventory to its present condition and location, such as direct labour. IAS 2 also allows for the capitalisation of variable overheads and fixed overheads so long as the fixed overheads are allocated on a systematic and consistent ...

  4. Sales (accounting) - Wikipedia

    en.wikipedia.org/wiki/Sales_(accounting)

    General Journal - Merchandise return example Date Description of entry Debit Credit 8-7 Sales returns and allowances 20.00 Accounts receivable 20.00 Full credit for customer return of merchandise purchased on account. 8-7 Inventory 15.00 Cost of goods sold 15.00 Restore returned merchandise to inventory.

  5. Cost accounting - Wikipedia

    en.wikipedia.org/wiki/Cost_accounting

    This method tended to slightly distort the resulting unit cost, but in mass-production industries that made one product line, and where the fixed costs were relatively low, the distortion was very minor. For Example: if the railway coach company made 100 coaches one month, then the unit cost would become $310 per coach ($300 + ($1000 / 100)).

  6. Inventory valuation - Wikipedia

    en.wikipedia.org/wiki/Inventory_valuation

    The retail inventory method uses a cost to retail price ratio. The physical inventory is valued at retail, and it is multiplied by the cost ratio (or percentage) to determine the estimated cost of the ending inventory. The gross profit method uses the previous years average gross profit margin (i.e. sales minus cost of goods sold divided by ...

  7. Inventory - Wikipedia

    en.wikipedia.org/wiki/Inventory

    Those companies (especially in metalworking) attempted to achieve success through economies of scope—the gains of jointly producing two or more products in one facility. The managers now needed information on the effect of product-mix decisions on overall profits and therefore needed accurate product-cost information.

  8. What’s more is chargebacks cost retailers 3.75 times the actual transaction value in lost revenue and merchandise, chargeback fees, higher overhead costs, and damaged relationships with card ...

  9. Standard cost accounting - Wikipedia

    en.wikipedia.org/wiki/Standard_cost_accounting

    This method tended to slightly distort the resulting unit cost, but in mass-production industries that made one product line, and where the fixed costs were relatively low, the distortion was very minor. For example: if the railway coach company made 100 coaches one month, then the unit cost would become $310 per coach ($300 + ($1000 / 100)).