Hi, What’s is considered ‘raw material purchase’? I am just a bit confused as we use to place call offs and schedule orders. For instance, If I place an order for 5000 of product x and I can call them off whenever I want for the next 24 months. I haven’t paid a penny yet. Would I considered that order for COGM? Many thanks
Work-in-process inventory is partially-completed inventory. If you walked into a Tesla factory and saw a partially-constructed car, that would be part of work-in-process inventory
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Would packaging be included in the sum for finished goods?
Hi,
What’s is considered ‘raw material purchase’?
I am just a bit confused as we use to place call offs and schedule orders. For instance, If I place an order for 5000 of product x and I can call them off whenever I want for the next 24 months. I haven’t paid a penny yet. Would I considered that order for COGM?
Many thanks
First I want to thank you very much
Second I wonder if I have packing inventories that is consider from cogs item or not
Can you explain work in progress more please?
Work-in-process inventory is partially-completed inventory. If you walked into a Tesla factory and saw a partially-constructed car, that would be part of work-in-process inventory
is rent excluded from cogs?
Ma men