I started my own legging/shirt business at the beginning of 2017, I purchase at wholesale and resell at a little bit higher wholesale price to others that have their own business. My profits are almost next to nil...maybe $1 per item. I do this more for something to do and to help out other women. I started this with my own money and then turn everything back into more purchases. I have an inventory purchase of just over $20,000 and have about $2,000 inventory left from the end of last year. Can I do this as just an expense for about $18,000 rather than do a COGS?
