Wait. You're almost right. Yet in my last response, I was totally and completely wrong. If you are expensing what you paid for the cards, you will not be using the COGS section "at all".
The $100 was already reported as an expense, in the "Business Expenses" section. then the total of what you sold them for is included in the "Business Income" section. Then income minus expenses equals taxable profit.
My bad! You won't be using COGS at all for this.
I can only blame my oversight (read that, "momentary stupidity") due to lack of sleep the last few days. But I got plenty of sleep last night!
