If you sell merchandise or manufacture products, you depend on selling your inventory to earn revenue. To know your gross profit, you must track your sales and the cost of goods sold, or COGS.

A business on occasion must make a deposit on inventory it is buying before it will be shipped. The purchase may be from a new vendor that the business is trying to establish credit with, or the ...

A balance sheet is a versatile document that offers a snapshot of a company's or individual's finances at a given point in time. Businesses can use balance sheets to develop plans for the future and ...