I started my business last year. I know my beginning inventory for the year was 0, then I purchased items. If I sold any of them are they still included in EOY inventory?
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1 Replies
Vanessa A
Expert Alumni
Apr 11, 2025 5:03:11 PM
No. If you sold items, they are subtracted from your end of year inventory.
If you are a small business, you can choose not to keep an inventory and instead list your purchases as supplies and your sales as sales.