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I am selling a business where we manufacture Appointment Books.

Resolved Question:

I am selling a business where we manufacture Appointment Books. We have made thousands of these books. I do most of the printing. My employees punch, coil and make the books for inventory on the shelves.

I received this statement:
parties plan to use Herb’s calculation of actual costs (no mark up) to the business for delivery to Jim the new buyer of the business.

I don't understand the legal term for (no mark up)?
Are all the normal costs included in the term actual costs, included, like the printing, collating, coiling, purching and my time on the printing press?
Submitted: 11 months ago.
Category: Business Law
Expert:  Law Pro replied 11 months ago.

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Who is Herb?
Customer: replied 11 months ago.

That is OK I am sorry for not explaining.


 


I am Herb the owner, owner of a print shop that prints the books and we distribute them nationwide.

Expert:  Law Pro replied 11 months ago.
OK. Generally, the statement "parties plan to use Herb’s calculation of actual costs (no mark up) to the business for delivery to Jim the new buyer of the business." means that it's cost to produce the product.

But you don't get "profits" on the inventory - just what it cost you to produce. The material, labor costs.




So you have to add up what it costs you to produce the inventory. Yes, that would include the printing, collating, coiling, purching and my time on the printing press?

If it costs you $1,000.00 to produce the inventory as it sits (inventory in progress of being manufactured and inventory already manufactured) - that's what you will sell the inventory to the buyer. You will not be able to charge them a "mark up" or profit on the inventory.


So you will have to determine your "inventory" at various stages of production.


If you have any further questions, please feel free to let me know…

You can always ask for me in your question, “This question is for Law Pro . . (then on with your question) . . . .

Please press the Accept Button(and the Smiley Face if prompted :) if I have helped you today so I am credited for my time assisting you.


 




Law Pro, Attorney
Category: Business Law
Satisfied Customers: 22707
Experience: 20 years experience in business law - sole proprietor, partnership, and corporations
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