qbteachmt
Level 15

Other questions

I responded to the person Asking = @ethompson2378

 

This is the person confusing Cost and Price, thinking the Fee they charge includes Costs. It is just Revenue. Costs will Justify the price you charge a customer.

 

And this is not COGS until it is Sold; the timing of this seems like WIP. That's why I recommend working with a CPA that knows your Business.

 

You cannot buy a $10,000 dog and COGS that, in November of 2018, then sell it in Feb 2019. That isn't Cost of Goods Sold until it Sells.