Accounting
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Average Cost of Inventory
read article | 3 min readFor accounting purposes there are a couple of ways of dealing with selling and purchasing of inventory and the changes in the cost of purchasing inventory over time. It is rare that a merchant will purchase items to sell in their Shopify store for the exact same price over time. It can be important to use an average cost price that takes into account these purchasing price changes over...
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Shopify and Real-Time Currency Exchange
read article | 3 min readThe Profiteer App is meant to expose profit or margins on a sale by subtracting the cost price of goods sold from the selling price of the goods sold. A common business issue faced by many merchants is the effect currency exchange rates may have on their sales. A shop located in Canada may sell products to Canadians in Canadian currency, but the products sold may have been purchased and imported...