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Year-End Inventory & Impact on Your Winery’s Profitability [Basic Webinar]

January 14 | 10:00 AM - 11:30 AM

Join Liz Miranda for this in-depth examination of how to calculate year-end inventory value, a direct driver of your profitability.

About this Event

Join Liz Miranda for this in-depth examination of how to calculate year-end inventory value, a direct driver of your profitability.

Key Learning Objectives Will Include:

Tracking costs by production center

  • Includes examples of a chart of accounts to support accuracy and quality of information
  • Growing costs
  • Bottling costs

How to calculate average cost per gallon over multiple vintages

  • Examples of calculating average cost per gallon over multiple vintages
  • Examples of how to more specifically calculate cost per gallon for specific varietals
  • Visual access to spreadsheet tool for calculating inventory value

How to calculate deductible amount of COGS and year-end inventory

  • Examples of calculating COGS to deduct/year-end inventory balance
  • Visual access to spreadsheet tool for calculating inventory value

How to calculate Gross Margin

  • Examples of calculating GM
  • Information on healthy GM amount for wineries
  • What remaining profit should cover

Discussion of IRS audit red flags – what the auditors look for

  • Access to Wine Industry Audit Technique guide published by the IRS
  • Tips for assigning Section 263A costs to inventory

This is Webinar is available for FREE to Tier 1 & 2 Members and $50 for Non-Members.

CLICK HERE TO REGISTER

Details

Date:
January 14
Time:
10:00 AM - 11:30 AM
Event Category:

Organizer

New York Wine & Grape Foundation
Phone:
315-924-3700
Email:
info@newyorkwines.org
Website:
www.newyorkwines.org