Re: Question re. Business Income Statements

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Posted by IB (NJ) on August 11, 2008 at 15:53:20:

In Reply to: Question re. Business Income Statements posted by IB (NJ) on August 11, 2008 at 15:29:32:

I'm now thinking that perhaps the purchase price itself would be factored into COGS.

In other words if I have a house that I brought for $100k and I sell it for $150k, I'm thinking that revenues on that house would be $150k but there would be $100k listed for Cost of Goods Sold. If so, what would you call the COGS category? 'Housing Inventory'?

Ib

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