@stech wrote:
So, $75K from 1099-K minus -$241K COGS is -$166K? is this correct?
No, not correct.
Beginning inventory ($36,000) PLUS Purchases ($500,000) LESS Ending Inventory ($195,000) = Cost of Goods Sold (COGS), which would be $341,000. So, $341,000 is your COGS.
