When did you business begin? If you began in 2017, then your beginning inventory is the value at 12/31/16 or zero. Add your purchases throughout the year and subtract the remaining inventory to arrive at your cost of goods sold.
Ex: New business in 2017: Beginning inventory is 0 + Purchases of $3k - ending inventory of $2k = Cost of goods sold (cost of goods sold) of $1k.
You don't have to carry an inventory if this is your first year. Simply record your sales and your expenses to arrive at your net income.
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