If you prefer, InventoryLab provides a feature to calculate your true Total Cost by using our Total Cost Calculator. This allows you to input Discounts, Sales Tax, and Other Costs associated with your purchase.
Activating/Deactivating the Total Cost Calculator
To activate or deactivate this capability, select your name and choose Settings.
Scroll to the Total Cost Calculator section.
Click the toggle next to Total Cost Calculator to turn it On or Off
Using the Total Cost Calculator
If you have the Total Cost Calculator turned On, you will see that the Average Cost/Unit box on the List page is grayed out.
Click the calculator icon to open the Total Cost Calculator.
You can also press TAB on your keyboard from the Quantity field and the Total Cost Calculator will open automatically!
Input your information into the Total Cost Calculator:
- Type in the Cost Per Unit
- Type in any Discount you received off the purchase price
- Type in the Sales Tax percentage you paid
- Type in any additional costs related to your purchase
Press the Enter key on your keyboard or click OK to save your inputs. If you need to go back, click Cancel.
Your Average Cost/Unit will now appear in the gray box.