In Magento how to do you set the cost of an item in the product?
For example all the e-commerce platforms I have been working with like Volusion have a cost of item field that allows you to input how much you pay for the actual item before you sell it. I saw several post of COGS but it refers to a more complicated feature than what I am looking for.
I just want to track how much I paid for the item and how much I sold it for, the difference it the profit and be able to put it into a report.
It should be a pretty standard out of the box solution for e-commerce but have some what a challenge to get it done in Magento