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-   -   Posting Costs Of Goods Sold (https://www.askmehelpdesk.com/showthread.php?t=32322)

  • Aug 22, 2006, 02:50 PM
    jusclif
    Posting Costs Of Goods Sold
    Why is it inappopriate to post goods puchased at the time of purchase instead of the time actually sold??
  • Mar 12, 2008, 03:08 AM
    adiwsusanto
    That's not true. That's actually the correct way of doing it. When you purchase your inventory you should Dr. inventory & Cr. Your payable and Dr. COGS and Cr. Inventory when you sold the goods
  • Mar 16, 2008, 02:01 PM
    morgaine300
    The question is seven months old.

    But for anyone reading this...

    The person titled it "posting to cost of goods sold." Meaning they were asking about why it's incorrect to post to cost of goods sold when it's purchased, not post to the inventory account. And posting to cost of goods sold at the time of purchase is indeed incorrect.

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