For this, I would suggest a few apps you can look into and use. Typically, the apps will have cost to you vs price you are selling fields for each item as well, so heopfully that is something that could be useful to you as well.
I hope that helps! Cheers,
I reiterate the initial question above but with a request that shopify consider modifying its program to allow us retailers to get a total inventory value (number of items x their aquisition cost). As Shopify already allows ud to track how many we have of each item, all you would need to do is have a place where we can enter our aquisition cost and the rest is just math, (although it would be nice to get value by department or product type as well). Many of us retailers have to tell the IRS at the end of each year what our total inventory value is, and since Shopify is keeping track of our inventory, this just makes sense. It also makes sense that we can request that certtain items not be included when calculating inventory value, for instance, I am a music store and many guitars are consigned so we don't actually own them and shouldn't be included in inventory value even though they are for sale here. Lastly, having a place to enter and later call up our aquisition cost is also useful because many times a customer makes an offer on an instrument that is lower than the marked price. if I can call up my acquisition cost, I can determine if I have enough margin to accept the offer. Adding these features would be very useful to many retailers, not just me. To properly integrate in-store and on-line sales, Shopify should consider making these changes so that these things that are routinely done in-store are part of the program. May thanks for reading this long entry.
Better Reports has had reports showing the total inventory value for a while.
It can show the inventory value based on the product price or base on the product cost. It can also display subtotals and filter out products.
I hope this helps.
Feel free to reach out to me at firstname.lastname@example.org to discuss further.
Hi Matt and David,
Data Export can report the inventory value based on your cost price or the sale price.
We have a simple workaround to input the acquisition (cost) price and the date of purchase into the reports.
This will enable you to calculate stock values for historical period and also calculate the year-end value for IRS purposes.
If you have any questions, you can reach me at email@example.com
At this point I'd pay for a 3rd party app, but I'm told from all of them that shopify doesn't track historical inventory so I don't even have a way to see year end inventory to report to my accountant even IF I pay for a 3rd party app... I'm so annoyed... been trying to figure this out for months.
Did you ever find a way to do this? I'm new to Shopify but sadly am discovering that lots of basic functions don't seem to be available! How do we give our accountants a value for our end of year inventory? How did you do it in the end?
Another very useful "solution" of shopify based on "you want a basic feature? Pay for it to our third-party apps!"
Sadly I'm starting to realise that this is indeed to business model.