Correctly Report Cost of Goods
Reporting uses the most recent item cost, not the cost that was recorded at the time of sale. Item costs that have changed over time are reported incorrectly and as a result all reporting values derived from COGS are incorrect when reporting over any period where inventory costs changed. Example:
(November 1st I set my crab cost at 3.99 and sell price at 5.99. I sell 1000 lbs at a gross profit of $2000. On November 15th my cost increases to 9.99 lb and I change my cost to 9.99 and sell price to 11.99 lb I sell 500 lbs at a gross profit of $1000. On November 30th my cost increases to 12.00 I update my cost to 12.00 and sell price to 14.00 lb. I have no additional sales. December 3rd I run a report for the month of November and it applies 12.00 lb cost for all crab sold, making my COGs $18,000, which is higher than the $11,985 in sales and reporting a loss $6,015.)
This can't be good for anyone's reporting needs and I advocate for this to be corrected to produce accurate reports.