Get a 2 Month FREE Trial of Sellerboard at https://www.askjimmysmith.com/sellerboard (affiliate)
eCommerce Accounting Services: https://www.askjimmysmith.com/eca
Are you tracking your Amazon inventory costs incorrectly? It might be costing you thousands.
Most sellers believe they’re profitable, but in reality, many are using outdated accounting methods that misreport profits. In this video, I break down the three key cost-tracking methods (Constant, Weighted Average, FIFO) and walk you through exactly how to implement FIFO inside Sellerboard for accurate profit analysis.
Whether you’re doing arbitrage, wholesale, or private label, this tutorial will help you:
• Avoid profit-killing errors
• Understand your real margins
• Make smarter inventory and ad decisions
• Scale confidently with financial clarity
Start your free 2-month trial of Sellerboard: askjimmysmith.com/sellerboard
Need professional accounting support? Visit: askjimmysmith.com/eca
Amazon sellers and eCommerce entrepreneurs over $5k per month in sales:
If you're ready to scale your Amazon business to new heights, APPLY HERE to join the Business Building Legends community: https://www.askjimmysmith.com/legends
Not there yet?
If you're just starting out or earning less than $5,000 per month on Amazon, YOU are why I make all my best resources FREE. I have nothing to sell you. Access my FREE 30-day training and other tools here: https://www.askjimmysmith.com/freetraining
Chapters :
00:00 – You're Tracking Profits Wrong
00:36 – Why FIFO Method Matters
01:30 – 3 Methods Every Seller Must Know
02:48 – Real Demo: Setting FIFO in Sellerboard
04:27 – Constant Cost – The Dangerous Default
06:17 – Weighted Average Explained
06:58 – FIFO – The Most Accurate Method
09:23 – Why Average Costs Lie
11:40 – Batch Management Example
13:25 – Weighted Avg vs FIFO
14:55 – Sellerboard Profit Accuracy Demo
16:50 – When to Use Each Accounting Method
18:47 – Final Thoughts and Links
Other eCommerce Training and Business Building Links:
Free Amazon Facebook Group:
The Proven Amazon Course:
eBay Training Community:
https://treasurehuntingprofits.com
Amazon Coaching (affiliate):
https://bit.ly/jimcockrumcoaching
eCommerce Accounting Services:
https://ecommerceaccountingllc.com
Replen Dashboard:
https://www.replendashboard.com
Affiliates and Discount Links:
Aura Repricer:
Helium10 (Discounts):
Disclaimer:
While all of these success stories/testimonials are from real people and we get more each and every day, please understand however that the results posted are not typical. I'm not implying you’ll duplicate them or that you’ll get any results at all! Your results will vary greatly and will depend on many factors including your experience, work ethic and other factors as well. The fact is, the average person who buys any business course or training gets little to no results. The results I share here and in other places are for reference only. Business always involves risk and your best chance of success is to take consistent, intentional action. We can equip and inspire you, but no one, including me can guarantee your results!
#AmazonSellers #Sellerboard #FIFOMethod #EcommerceTips #AmazonProfit #CostOfGoods #InventoryManagement #ArbitrageSeller #WholesaleAmazon #AmazonFBA
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