Shipping COGS or Expense?
How do you account for shipping charges when you enter the inventory items. Is it another item that ends up under COGS?
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11/11/09 3:36pm PST
Viewed by asker 11/19/09 8:29am PST
Viewed by asker 11/19/09 8:29am PST
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raywhite28
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11/14/09 5:25pm PST
The solution
In my opinion
Cost of Doing business - COGS
Cost to do business _ Expense
Shipping cost on inventory items - COGS
Hope this helps. If so please mark solved, if not please ask more questions. Thanks!
Fretley
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11/17/09 2:01pm PST
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The answer is "both"
Shipping cost to receive(inbound) your goods = COGS
Shipping to your customers (outbound) = cost of you doing business = "Expense"
"if it ain't broke, enhance it"
