Yes, when you close your business, your ending inventory is zero.
If
you had a "Beginning of Year Inventory" that was more than zero, you then indicate
that all of that inventory was "removed for personal use". That
reduces your inventory to zero.
The items you donated to charity are reported as Charitable Contributions under Deductions & Credits (this is a personal deduction, not for your business). The value of your donation is either the fair market value or your cost.
According to IRS
Pub
334 Donation of inventory. "If you
contribute inventory (property that you sell in the course of your business),
the amount you can claim as a contribution deduction is the smaller of its fair
market value on the day you contributed it or its basis."
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