This topic contains 3 replies, has 2 voices, and was last updated by Amy 9 months ago.
- August 8, 2017 at 5:09 pm #95548
Thank you for attending our webinar today on The Chart of Accounts. I’m here to answer any follow-up questions that you may have so fire away!August 8, 2017 at 6:52 pm #95554
Hi in my house flipping business are the items we put into the homes, like flooring and cabinets etc considered COGS?August 8, 2017 at 6:57 pm #95559
Hi Jennifer! Yes, you are correct. Any direct materials and labor that are used to get the home ready for sale can be classified as cost of goods sold.
All the Best-
Crystalynn SheltonNovember 14, 2017 at 4:32 pm #117736
Thanks for all of the resources you provide here; I just finished the Chart of Accounts Webinar. I definitely have some more detailed follow-up questions. Should they be posted in this forum or in the general “ask a question” forum? I know that this one is newer but I wanted to make sure my questions don’t get lost, so to speak.