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Re: Should I list our cost to manufacture our products under cost of goods sold because those costs are materials, labor, etc which will also be listed under expenses

As Rustler mentioned QBO is not designed for manufacturing, so if you want to track your product recipes and production costs in more detail then it's best to use an app like Katana.

 

It will automate your material inventory management in real time whilst pushing your invoices and bills directly to your QBO account. Your costs are updated based on your purchasing orders. Basically means you can achieve what you're looking for, which is quickly working out the products that are currently most profitable.