Hello Everyone! It's January 1st!
Friendly reminder for all retailers: Remember to generate your year-end inventory report today.
Dashboard -> Items -> Item Library -> Actions -> Export Library -> Export, All Items, Excel
Once you have the report, you can run a formula to calculate cost of total inventory:
In cell AG2, label: Total Cost
In cell AG3, type: =Y3*AB3 (Default Unit Cost * Current Quantity)
Double click Fill Handle in AG3 to calculate for all rows
Go to end of AG column, click on empty cell below last value, click the AutoSum button
While you can get the dollar value of your inventory from Dashboard -> Reports -> Inventory Reports -> Projected Profit, it is always good to have record of the physical inventory on hand January 1st of each year. Also, you cannot run the Projected Profit report for a prior date.
Hope the above information helps! Let me know if you have any questions.
Have a better way to calculate year-end inventory? Let me know below!
Thanks!
