How Do I Find End of Year Inventory Cost?

Created by Ezra Weinstein, Modified on Wed, Nov 30, 2022 at 10:54 AM by Hannah Harris

If it has already been a few days/weeks/months past the new year and you need to know the dollar amount you had in inventory for the previous year, you can achieve this quite easily. We recommend printing out your receiving and sales report for the current year and follow this simple formula:

Inventory Cost End of Year = (Current inventory + Current Year Cost of goods sold) - Current Year Cost of goods received

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