How should Mary Kay inventory be handled as an expense if it was purchased in July 2018 and sold back to Mary Kay for 90% of it's worth before Dec 31 2018?

 
Carl
Level 15

Business & farm

Handle it exactly the same way you would, if you sold it to me personally for 90% less than it's worth. Depending on your other business income/expenses, the business will probably show a loss, which is fine.