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Take the cost of every supply and expense you made for the year and divide by the number of things you sold. On Fri, Apr 3, 2020, 11:18 AM Lynette Cook <[log in to unmask]> wrote: > Britt, this article addresses inventory and keeping track of costs in a > general way as part of one’s business (for tax and insurance purposes), > though doesn’t directly address my questions. I must come up with a number > for COGS from 2/1/19-1/31/20. Thankfully, not for any other period than > this! > > Lynette > > > On Apr 3, 2020, at 8:01 AM, Griswold, Britt (GSFC-279.0)[LUSA > Associates] <[log in to unmask]> wrote: > > > > Lynette, > > > > This article may have your answer: > > > https://urldefense.proofpoint.com/v2/url?u=https-3A__www.artworkarchive.com_blog_how-2Dto-2Ddo-2Da-2Dyear-2Dend-2Dinventory-2Dof-2Dyour-2Dart-2Dstudio&d=DwIGaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=cAU6KdqpDsZaQ9-bPjTIlOtFdU6rp7_ITwQlMqhyic4&s=vYJU2K0vsTkit-O7Qf6hQZFS361kasG5evTNUChZkPg&e= > > > > Personally, I do not have an inventory so this has never been a problem > for me, so no direct experience. > > > > Britt > > > > On 4/3/20, 10:50 AM, "SciArt-L Discussion List-for Natural Science > Illustration- on behalf of Lynette Cook" <[log in to unmask] on > behalf of [log in to unmask]> wrote: > > > > Hi all, > > > > I know this isn’t rocket science but I’m having trouble wrapping my > mind around it (my spring allergies must have me befuddled). I’m having to > come up with a number for COGS: cost of goods sold for a 12 month period. > We artists usually do not run our business this way. So, for all physical > paintings sold during these 12 months I have to go back in my records and > hunt for receipts in order to itemize the cost of materials and find the > total dollar figure. Of course, some have to be estimated, such as the 24” > of wire that went on the back of a canvas when said wire was purchased as a > large roll 15 years ago. And, hmmmmm, did I use a 1/4 C of gesso from the > gallon jug on that painting or did I use 1 C? A teaspoon of paint from the > tube of phthalo green or was it three? > > > > My understanding is that I do not include my own labor or other > costs. Though I wonder: do I include my paintbrushes? I easily ruin the > points of 2-4 on each painting, so they are expended for all intents and > purposes even though not incorporated into the art itself. > > > > My main question is: am I thinking this through correctly or am I > missing something? > > > > Lynette > > — > > Lynette Cook > > [log in to unmask] > > > > Instructions to subscribe or leave the list are at > https://urldefense.proofpoint.com/v2/url?u=https-3A__www.gnsi.org_listserv&d=DwIFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=AGYZ7-AeerjxzYnIwL-lBLFI3SPYN3BDmku4qGQB4Tg&m=i93DNU6e108pSj1MML0HdJQ0JtWc39wqbH-BszdWllE&s=0GBlese382ImmaBWIdX7adK83gOU8lXzhqjZkHaoOs0&e= > > List name is Sciart-L > > Problems: Email Lana Johnson at [log in to unmask] > Instructions to subscribe or leave the list are at https://www.gnsi.org/listserv List name is Sciart-L Problems: Email Lana Johnson at [log in to unmask]