I invest in my friend in car dealership. I have $50K to buy cars. He bought all cars for $50K, but only sold $20k worth of cars.
do I put beginning inventory as 0, purchases as $50k, ending inventory as $30k, COGS $20k?
assume I received $25k as 1099
Or should I add $50 as total expense and $25 as gross revenue?
