I’d welcome some simple guidance on how to proceed.
I sell item-x which I buy in bulk. When I buy I want to add the cost to my inventory asset nominal. When I sell one or more item-x’s I want to add the cost to the appropriate cost-of-sales nominal for p&l purposes and I want to subtract the cost from my inventory asset nominal.
Do I simply raise the appropriate journal transfers, or can I define rules somewhere to automate this procedure?