Hi, This is really a book keeping question but maybe I can get help here... I'm trying to figure a realistic way to figure the true cost of individual inventory items that come in on freight (40k LBS+).
For example: I order 1400 T-posts, the weight for those 1400 posts add up to 12,200 pounds, the purchase price for the 1400 posts total is $6000
on the same truck I have other inventory with different costs and different weights some inventory items are heavy like the T-posts and some items are light, Example: 1000 T-post clips only weighing 20 pounds, purchase price is $40.00.
These are 2 examples of the 10 items on the truck (1 light item and 1 heavy item) and the other 8 items are of similar characteristics (heavy and light)
Now the next element to factor in is the freight of the 10 items on the truck adds up to 41, 500 pounds and the freight cost is $1800 to get it to my door.
This may be and extremely easy question for most of you but for some reason its eating my brain and want to make sure Im realizing true cost of my products so I know the exact amount to mark up my products to realize a profit. The easy thing to do is to just sell these products by weight but for this scenario I dont have that luxury, If there is a formula out there Im overlooking please point me towards it, and from that formula I can create an excel calculator to figure true costs quickly.
Thanks everyone, Im excited to hear your advise!!
John/"opening a ranch supply store soon"
For example: I order 1400 T-posts, the weight for those 1400 posts add up to 12,200 pounds, the purchase price for the 1400 posts total is $6000
on the same truck I have other inventory with different costs and different weights some inventory items are heavy like the T-posts and some items are light, Example: 1000 T-post clips only weighing 20 pounds, purchase price is $40.00.
These are 2 examples of the 10 items on the truck (1 light item and 1 heavy item) and the other 8 items are of similar characteristics (heavy and light)
Now the next element to factor in is the freight of the 10 items on the truck adds up to 41, 500 pounds and the freight cost is $1800 to get it to my door.
This may be and extremely easy question for most of you but for some reason its eating my brain and want to make sure Im realizing true cost of my products so I know the exact amount to mark up my products to realize a profit. The easy thing to do is to just sell these products by weight but for this scenario I dont have that luxury, If there is a formula out there Im overlooking please point me towards it, and from that formula I can create an excel calculator to figure true costs quickly.
Thanks everyone, Im excited to hear your advise!!
John/"opening a ranch supply store soon"