Carl, Inventory is an asset, at least in my accounting (QuickBooks). Inventory is not a P&L item, yet in Turbo Tax they insist it is. So I'm running into problems where my COGS is not matching up b/w QB and TT because my Inventory EoY is much lower than BoY and therefore TT is showing a higher COGS than QB is. Basically, I"m not understanding why you're conflating Inventory levels with COGS. Since Inventory is by definition unsold, the level of Inventory, or amount of change, doesn't affect the cost of the items that were sold.
