Hi, trying to find the right reports for item % margin

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Hi, I'm having a lot of trouble trying to find a report that gives me the Gross Profit Margin for each inventory item. 

The main problem is that all of the reports that might be useful to me are not calculating right, or I might have missed something during the original setup of the item profiles.
It seems to be to do with the "COGS" I've been looking at "Sales by item report" and the "Purchase by item report" and both are the same where, if there is no number in the COGS column the % margin is 100%

Basically my question is, how does the COG fit into the whole picture, because technically speaking its not a tax code, and how to I fix the 100% problem?

Sorry about the bad description but I don't know how else to describe it.  
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Tanah

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Posted 5 years ago

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Kevin Russell, Accredited Partner

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The codt of goods sold is used to determine the marhin. If the cost of goods sold is zero by definition the margin (sell price less cost price) is 100%
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Tanah

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Thanks! so you're saying that that the 100% means that nothing from that item has been sold?
I have looked into it and I'm still having trouble with the 100% on my reports. I know we have sold some of the items but they are still giving the the 100% margin. 
I'm not quite sure how to fix that, would love some suggestions if you have any. 
Have you spoken to your tax accountant or your registered tax agent ask them to look into it, as this will affect your companies taxable position when he files your company tax return. If you still have issues please let us know we can provide you service we are also Tax agents.

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