Selling at Cost question (1 Viewer)

[MC_CPA]

If someone was downsizing and wanted to sell of parts of their collection, and they got half their barrels for say $100/rack (they bought early) and the other half at $300/rack (they bought late), would the 'at cost' price be $200? Or would it be misleading to sell at $300 and say it is "at cost"?

My thought is that they did pay $300/rack for half their collection and they can say they are selling that half of the collection. Any thoughts?

 

[FestiveKnight]

I think it is correct to average when claiming to sell “at cost.”

 

[Tonystark137]

I'll take all your Tigers at 300/rack. Done.

I think it depends? If it's a set I would catch and release for the total I have into the set.

If's by rack and chip conditions are equal, I would average my costs.

 

[upNdown]

Yeah that’s how I’ve always done it - average the costs if necessary.