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We cut and bale a neighbors field and sell some of the hay. Is the price we pay the neighbor considered an item purchased for resale or a regular expense?

 
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DavidD66
Expert Alumni

We cut and bale a neighbors field and sell some of the hay. Is the price we pay the neighbor considered an item purchased for resale or a regular expense?

I would report it as a Cost of Goods Sold.  Ultimately, it doesn't really matter, as long as you include the cost as one of your expenses.

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