Inventory and COGS for Shopify | How to Do It Right!

Inventory and cost of goods sold (COGS) accounting for Shopify sellers is not straightforward. But getting it right is critical to having accurate profit margins to help you make better business decisions for your ecommerce business.
In this video, we'll show you:
👉 The rookie mistakes we see Shopify sellers make all the time
👉 How to do it right
We also go over how COGS hits your financial statements when it's done correctly.
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🔥 If you need help with your Shopify accounting, contact us here: ledgergurus.com/ecommerce-acc...
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⬇️ MORE STUFF YOU SHOULD CHECK OUT ⬇️
** INVENTORY & COGS PLAYLIST: **
• Inventory & COGS
** The Difference between Cost of Sales & Cost of Goods Sold (COGS) in eCommerce **
• The Difference between...
** BLOG: How to Record a Cost of Goods Sold Journal Entry **
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** COGS Explained for eCommerce Sellers **
• COGS Explained for eCo...
** BLOG: Your Road Map for Good Inventory Management **
ledgergurus.com/a-road-map-fo...
** If you're interested in our ecommerce accounting services, click here to contact us: **
ledgergurus.com/ecommerce-acc...
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• Inventory and COGS for...
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[@LedgerGurus]

If you need help with your ecommerce accounting, let us know. We can help! ledgergurus.com/ecommerce-accounting-services/

[@girlwithaview6961]

This is such a great breakdown of Inventory, Cost of Goods Sold, and Profit Margin. Great for clients new to eComm, or a student learning this for the first time.

[@LedgerGurus]

Glad it was helpful!

[@uyiedivri6653]

Hi, thank you for this video. You mentioned pulling the inventory from your Shopify sales reports. What specific report(s) are you referring to?

[@LedgerGurus]

Look for the sales orders reports that specifically calls out what sold by SKU.