I paid shipping & taxes on most of my inventory purchased for resale. Where do those figures go inside TT Home & Biz?

[ThomasTax]

Inventory / Cost of goods sold. I have been adding the cost of the inventory plus the shipping. I hope that right however where does the tax go that I paid on my inventory?

Thanks

[DianeW777 · Accepted solution]

Yes, you are doing that correctly.  Include the sales tax paid for your inventory as part of the inventory cost.  Your purchases for resale should include the tax and the shipping.

[ThomasTax]

Thank you so much!