1. Estate set up showing 2 types of COST OF SALES calculations
Cost of Sale Percentage = 30%
2. Area of Land by Purchase Price Cost of Sale Recoupment
Total area in Estate = 3000 m2
Total land Purchase = $2,500,000
Cost per m2 = 833.33
3. Lot Sales record set up $1,000,000.00 and processed
4. 2 sets of cost of sales journals created as per setting in 1 above