Started business this year but already owned personal inventory and materials. How do I account for pre-existing inventory? Do I sell it to myself e.g. my new business?

I started my business this year. I have an supply of personal fabric and other materials I am now using in my new business started this year. How do I treat this fabric? Do I sell it to myself this year, or as it is used up in subsequent years?

I also have a sewing machine I now primarily use for my business? How do I manage that expense and maintenance of it if shared with business and personal?