Should I report inventory or supplies and materials?

[kmjallen]

I've reported inventory in past years, can I not report inventory for the most recent year?

[TPKR]

Inventory has three components:  Beginning Inventory, Purchases, and Ending Inventory.  These figures are used to calculate Cost of Good Sold.  COGS = Beginning Inventory + Purchases - Ending Inventory.  2019 Ending Inventory then becomes Beginning Inventory for 2020....so yes reporting inventory is required.