As a mission based store, we sometimes get inventory gifted to us. That means we pay $0 for the items but can sell them for retail market value. How should we set that CPI up to have the correct accounting and make sure reporting is accurate inside of Shopify? I have seen both leave it at $0 or put at least $1 in but nothing conclusive?
Hey @AmyStettler ,
If the inventory was donated and there was no purchase cost, I’d generally keep the cost at $0 rather than entering an arbitrary value like $1, as that could distort your inventory and profit reporting. If you need to recognize the value of donated inventory for accounting purposes, it’s usually best to handle that in your accounting system with guidance from your accountant, rather than adjusting the cost field in Shopify.
Thank You !