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AlwaysOffLine
New Member

Is the dollar cost of inventory the straight cost to make each item * number of items, or can peripheral factors be included?

We have books printed overseas for sale in the US.  We travel there to manage the printing, quality control, transport, et al.  Do we include those costs in the Inventory dollar value of the books (beginning of year  - end of year), or are those costs reported separately?  Also, we will see a sharp price change in the printing cost of each book 2018 to 2019, so that will drastically impact the inventory from 12/31/2018 vs. 1/1/2019.  How do we report that?

1 Reply
Cindy0H
New Member

Is the dollar cost of inventory the straight cost to make each item * number of items, or can peripheral factors be included?

The inventory will ask for the cost of the goods. What you paid for the inventory. You can add some of those cost in the screenshot page, but most of your costs will be business expenses such as travel. The increase of cost is what it is and you report it as such. It is not a red flag. Prices change.

If you have other questions about this, ask in the comment section below.

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