Solved: Yes, products purchased for resale in a business and that...

Should my automobile restoration company list vehicles purchased but not sold as inventory?

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Yes, products purchased for resale in a business and that remain unsold should have them listed as inventory.

The cost of the product cannot be deducted until such time as the product is sold.

**Disclaimer: Effort has been made to offer correct information; but due to the discussion forum limitations, the poster disclaims any legal responsibility for the accuracy of the poster's response**

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Yes, products purchased for resale in a business and that remain unsold should have them listed as inventory.

The cost of the product cannot be deducted until such time as the product is sold.

**Disclaimer: Effort has been made to offer correct information; but due to the discussion forum limitations, the poster disclaims any legal responsibility for the accuracy of the poster's response**