Yes. Any item you purchase for resale for your business is an expense for the business. This can be entered as supplies or product. Inventory is not a required tracking if your gross receipts for your sole proprietor business is less than $27M for 2022.
Under the Tax Cuts and Jobs Act (TCJA) Effective 2018-2025:
The $25 million gross receipts amount is adjusted annually for inflation. The inflation adjusted gross receipts amount for 2019 through 2021 is $26 million. The inflation adjusted gross receipts amount for 2022 is $27 million.
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