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dolorese
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I make wooden crosses. How do I base my inventory on my wooden crosses?

 
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I make wooden crosses. How do I base my inventory on my wooden crosses?

The purchases made to make or produce your cost of goods and/or inventory is made up of only cost to make the product.

You should report actual out of pocket costs for your supplies to produce the crosses.  Any crosses or materials used to produce them remaining on your shelves unsold on December 31st should represent your cost of ending inventory. 

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1 Reply

I make wooden crosses. How do I base my inventory on my wooden crosses?

The purchases made to make or produce your cost of goods and/or inventory is made up of only cost to make the product.

You should report actual out of pocket costs for your supplies to produce the crosses.  Any crosses or materials used to produce them remaining on your shelves unsold on December 31st should represent your cost of ending inventory. 

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