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Cost of Sales vs. Cost of Goods Sold

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Posted: Sat May 29, 2004 5:15 am    Post subject: Cost of Sales vs. Cost of Goods Sold  

I'm doing bookkeeping for a seafood market that also sells cooked meals. He doesn't have inventory because he buys as needed. How do I record his purchases of meat and other food related items? I've been recording them as cost of sales. Is this correct? Thanks, Tommie
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Posted: Mon Jun 21, 2004 6:53 am    Post subject: RE: Cost of Sales vs. Cost of Goods Sold  

That works. Keep up the good work.
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