dromero Posted March 12, 2014 Share Posted March 12, 2014 How to do a profit loss in excel?? Dont get me wrong I already have the profit loss template downloadable over here and I studied Finance in college. But I don´t know how to determine the cost of good sold. Lets say I bought 1 box of m&ms for 25 USD, I filled the machine to around 70%. Then when I go to pick the money, I pick lets say 30 USD and the machine is around 40% full. How do I determine the cost of goods sold?? Thanks. I should have known how to do this :S Link to comment Share on other sites More sharing options...
musser Posted March 13, 2014 Share Posted March 13, 2014 Best way is to get a scale that weighs in grams. Run several weigh them take an average and compute vend cost. Set your wheel appropriately so you have a reasonable vend cost. Tracking actual cost per product at the machine level is too expensive in bulk vending. It's all averaged. Link to comment Share on other sites More sharing options...
caserri Posted March 13, 2014 Share Posted March 13, 2014 Best way is to get a scale that weighs in grams. Run several weigh them take an average and compute vend cost. Or you can use grumpy's calculator in the download section. No math required. Sent from my Galaxy Nexus using Tapatalk Link to comment Share on other sites More sharing options...
bhfisher Posted March 13, 2014 Share Posted March 13, 2014 Grumpy's calculator is good place to start. See http://vendiscuss.net/index.php?/files/file/41-percentage-pricing-worksheet/ Bart Link to comment Share on other sites More sharing options...
musser Posted March 14, 2014 Share Posted March 14, 2014 Well , that is a good place to start !! Link to comment Share on other sites More sharing options...
dromero Posted March 14, 2014 Author Share Posted March 14, 2014 Best way is to get a scale that weighs in grams. Run several weigh them take an average and compute vend cost. Set your wheel appropriately so you have a reasonable vend cost. Tracking actual cost per product at the machine level is too expensive in bulk vending. It's all averaged. Or you can use grumpy's calculator in the download section. No math required. Sent from my Galaxy Nexus using Tapatalk Well , that is a good place to start !! Thanks very valuable advice. So I was talking to a friend and I am doing the following to determine cost of goods sold. Steps: 1. Determine vend cost using Grumpys spreadsheet. 2. Calculate vend cost/price(coin introduced). So lets say I vend 10 cents worth of M&Ms and the price is a 25 cent coin this gives me 40%. This is the same as Grumpy´s last row ".25 Cost Percentage Suggested Vend" 3. Multiply vend cost/price(coin introduced) * Total earned = Cost of goods sold. I have however one argument over this method. The "vend cost/price" or "Cost Percentage Suggested Vend" is not completely accurate because sometimes the machine will vend 5 candies and other times 4 and other times 6. How do you deal with that?? Your inventory is not going to be accurate too because you will be subtracting more or less candy and you have supposed you vended some candy you have not or viceversa. p.s. I wonder why did Grumpy put a row about Cost per pound. Link to comment Share on other sites More sharing options...
Makes Cents Posted March 14, 2014 Share Posted March 14, 2014 I think he put cost per pound because its easy to extrapolate the total cost per bag/box that way. Sometimes manufacturers go to a different size bag, downsize or you get a better deal by buying bigger size. As far as it being 'not completely accurate' thats true. It also dosent account for theft or stale product buts its a good tool to estimate your average profit percentage per pull from the location. Your real tally will be from your monthly p&l which has bags bought and all your expenses vs bags sold and inventory Link to comment Share on other sites More sharing options...
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