Hello!
So while trying to unravel my absolutely wonky COGs reports I discovered an issue with how Square handles items that you buy and sell by units. The short version is that when you enter an item in a PO under one unit (in this case pounds) if you later change the item unit to oz it does not convert to inventory count or cost.
My case: November of last year I purchased a bulk box of wood. The vendor sells it as 1 box which contains 22.5lbs of the wood. The box is $140 + a share of the shipping cost. I entered the item in the PO as 23 lbs at $6.23/lb, as Square didn't allow decimals.
However, I am selling the wood by the OUNCE. So, later I changed the item page unit to Ounces. What I didn't realize at the time was that the inventory swapped the unit and nothing else. So it assumed I now had 23oz that cost over $6 per. Then it was telling me I was losing money selling them for $0.95/oz. But I am not. The real cost per oz was just shy of $0.40.
Later I tried to correct the cost and inventory count. But corrected cost doesn't update historical cost and as far as I can tell I have no way to MAKE that kind of correction. So now we have these fun spikes (I recounted the Oz and it thought I spent thousands of dollars on wood.). Then Recounted down because it was still wrong which made a huge -$2k into my COGS with shrink (which matters a lot in my business).
Ultimately, I need to make a correction somewhere so that this stops poisoning my COGs report. How can I do that?
