| # Completed Project Method (COGS) Select this method to calculate COGS on completion of a contract. When to use this method This method is used when you prefer to calculate COGS only on completion of the contract. Calculation of COGS
    COGS = COGS Percentage Completed * Estimate at Completion(EAC)
      Revenue recognized = Percentage Complete * Contract Amount
When calculating the COGS, Infor LN also considers the loss component. In which case:
    COGS = Revenue + Loss; where in Loss = Contract Amount - EAC (estimate-at-completion)
Levels at which it can be recognized: Project Contract Extension Constraints The project status must be closed. The extension status must be closed. Related topics Revenue Recognition (RR) and Cost of Goods Sold (COGS) Percentage of Completion Method (COGS) |