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Calculate inventory turnover rate. First, calculate your inventory turnover rate. To do this, divide Costs of Goods Sold (COGS) by the average cost of your inventory on hand. If you finished year-end inventory last month, you should have your COGS on hand.This article explains how to calculate COGS.For example: Consider an Amazon third party merchant whose Costs of Goods Sold was $50,000 the first year and kept $5,000 worth of inventory on hand on average.f you finished year-end inventory last month, you should have your COGS on hand. This article explains how to calculate COGS. For example: Consider an Amazon third party merchant whose Costs of Goods Sold was $50,000 the first year and kept $5,000 worth of inventory on hand on average.
Track Inventory in Multiple Locations For each location, you can see how many items are on hand, on sales order, on purchase order, and your reorder point... and QuickBooks will automatically calculate which items you need to restock.