The item cost feature is a way to calculate your net profit after an item sells and Amazon takes all of their referral and commission fees. Once Item costs are added, they are displayed as a list, and if there are multiple entries for a single item, they are displayed in the Average Item Cost table.
There are 2 ways to add the cost to an inventory item:
One at a time
To add a single cost to an item, click on the "+New" button on the top of the page:
That will open a new page with fields to enter your SKU, Quantity amount of the PO, and the cost per unit:
After the information is entered, click "Save" and you will be brought back to the main item cost page. To search for an item after it has been entered, use the search bar on the top right of the page.
Using an Excel CSV Upload sheet
To add the item cost for multiple items at one time, you can use the CSV Upload sheet. First, click on the "Get Template" button as seen in the screenshot below:
Once the Excel file downloads, open the file and fill out the columns with the relevant information in the applicable columns, SKU, QTY and cost per unit as seen below:
Once the file is complete, save the file in a .CSV to your computer and close. Go back to the SellerWit app and click on "Choose File" ( as seen in the red box in the screenshot below) and select the file from your computer and click "Open" and then Click on "Import CSV" as seen in the red circle below:
Once these steps are complete, the added items will be displayed in the main purchase order items table.
To Edit or Delete any cost uploaded to SellerWit, use the Edit button or Delete buttons in the "Actions" column, as seen below:
Average Item Cost Table
If multiple costs are entered or uploaded, SellerWit will show the average cost. The average cost is computed by dividing the total cost of items uploaded to SellerWit by the total quantity of units uploaded to SellerWit. This gives a weighted-average unit cost that is applied to the units in your inventory.