For the last two years I've simply been plugging in numbers to equal the inventory of my books. Since I have more time this year, I'd like to properly input my sales and inventory but am having considerable trouble achieving a balance. Here are my inputs:
I have an inventory of 1,004 books that cost $3012 to produce ($3 production cost/book) years ago. So I'm using $3012 as my Beginning of 2019 Inventory.
Last year, 2019, I sold 29 books and received $373 in total sales.
I'm assuming my End of 2019 inventory input should be $2925.
Is my Cost of Purchases suppose to be $87 (29 books x $3/book)?
What should be my Materials and Supplies input?
Can anyone help me? Shamefully, I've just been plugging numbers into the Materials and Supplies box to get what I think my end of year inventory should be (3012-87 = $2925).
