Inventory Item Screen
On the inventory (and the assembly) item screen there is a block titled cost just below the description block. The QB help for this block says something about entering overhead and other markup costs. Wrong! It just does not work that way. Any cost you enter there will show up in reports, but it will not be used when COGS is posted.
You can prove that by (in a test file) sell the item, bring up a profit and loss statement and look at the total in COGS, then bring up the item screen and enter something more than the average cost. Sell the item again and you will see that the COGS account increases by the cost of the item or assembly, NOT the amount you entered in the cost block.
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