Remarketed Cars—Retail

• ACCOUNT EXPLANATION
• TRANSACTIONS
• COMMENTS

Remarketed cars are used Ford Motor Company cars sold to Ford and Lincoln Mercury dealers at closed auction. (i.e. Fleet repurchase vehicles, Ford Company Sales Vehicles, etc.).

Sales: selling price, less overallowance, of remarketed cars sold to retail customers.

Cost of Sales: Inventory value, excluding reconditioning costs, of remarketed cars to retail customers.

*Refer to Chart of Accounts for current applicable Sales/Cost of Sales account numbers

• The cost of each vehicle and reconditioning cost should be obtained from the subsidiary vehicle inventory record. Sales data should be entered in the vehicle inventory record.
• When remarketed cars are retailed, the inventory value, excluding reconditioning costs, of the units should be charged to Account 4800, Cost of Sales—Remarketed Cars—Retail, and reconditioning costs should be charged to Account 4801, Cost of Sales—Remarketed Cars—Reconditioning—Retail.
• Dealers who need to maintain records of gross sales and/or overallowances on remarketed vehicle sales may use one of two methods:

  1.	Record gross sales and/or overallowances as memo items in the Vehicle Sales Journal, without regard to vehicle line, or:
  2.	Establish a separate account, using Account 3701, Used Cars—Retail—Overallowances, to which overallowances should be debited. Gross sales amounts should be credited to Account 3800.