Cost of Goods Sold
With CLEARVIEW, all inventory usage, actual and theoretical, is calculated using true First-In-First-Out (FIFO First In First Out - an assumption that the oldest items are used first and hence costed accordingly.) based costing to show exactly what cost of goods sold and profit margins are, period.
The CLEARVIEW FIFO First In First Out - an assumption that the oldest items are used first and hence costed accordingly. cost of usage engine takes each restaurant’s specific purchase and transfer history, to build out an exact trail of all stock coming in, in what quantities and price. As stock is prepared and sold to customers, wasted, or transferred to another restaurant, CLEARVIEW uses the actual stock item value of the specific products to determine and valuate the exact costs. You may not be able to control your supply chain pricing fluctuation, but you can monitor and minimize the impacts to your bottom line.
In this section we will cover some helpful reports to analyze your inventory and ensure everything is running smoothly.