The cost basis shown on the Transactions page is calculated according to the selected cost basis method on the Settings page. The calculated cost basis value might sometimes look wrong, even though it actually isn't.
All of the transactions imported are being considered when Coinpanda calculates the cost basis, but you can easily verify how the cost basis is actually calculated by using the Cost Analysis tool accessible by clicking anywhere in the transaction row.
Cost basis calculations are even more complex for countries like the UK and Canada since your past, and future purchasing history must be considered when determining the cost basis. Because of this, you will need to have a solid understanding of how these calculations work and use complex spreadsheets if you want to calculate the cost basis manually.
Example - FIFO
You received 0.7 BTC on May 10th and then sold 0.7 BTC 10 days later on May 20th. The cost basis of BTC sold is calculated as $30,610.52, while the cost basis of 0.7 BTC received is $19,113.01. This means you have older transactions involving acquiring BTC, assuming that FIFO is the selected cost basis method.
You can view a full breakdown of the cost basis calculations by going to the Cost Analysis tab in the expanded transaction row, which opens by clicking anywhere in the transaction row.
As we can see in the screenshot below, the cost basis of $30,610.52 is calculated from three prior transactions between January and March 2022.