[Jewelry making - Article 00043] - Re: [Orchid] Dealing with the increase in metal prices...

[David Popham]

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>     If you're selling your old pieces at old metal prices you're just
>     screwing yourself. You need to mark up your old stuff as if the
>     metal was bought at current prices because that is what you are
>     going to have to pay when you replace the stuff you sell. Then
>     your new stuff will look right as well. 

    I would humbly suggest that you check with your accountant as to how
    to do the above. To restate the value of the cost of goods sold at a
    higher price likely violates what we in Canada call GAAP or
    Generally Accepted Accounting Principles. To do so would understate
    your revenue from sales, something that the tax (wo)man does not
    take hindly too. 

my $0.02 Canadian
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