how do you determine cost of goods sold for a car repair shop?I have four completed jobs and two that are not.

Answer 1

1. Cost of all materials (parts) you used, plus
2. Labor costs to install those parts.

Answer 2

I am currently in a cost accounting class and were talking about job cost and from my understanding once a work in process is complete it transfer to finished goods and once those finished goods sale at the companies sale price to customers the finished goods cost is your cost of goods sold and any jobs that are not complete are still work in process.

Jobs completed leaving factory and sold

Finished goods 1000 DR
Work in Process 1000 CR

Accounts Receivable 3050
Sales 3050

Cost of goods sold 1000
Finished goods 1000