Liz, I didn’t sell everything I made. And I still have a lot of paint, gesso, canvas, etc. on hand to use. Doesn’t cost of goods sold apply only to the artwork that actually sold? 


On Apr 3, 2020, at 8:27 AM, Liz Lockett <[log in to unmask]> wrote:

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!



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