topic Where do I enter the inventory method for COGS? in Business & farm

Where do I enter the inventory method for COGS?

candytraning- — Tue, 14 Jan 2020 20:12:30 GMT

Re: Where do I enter the inventory method for COGS?

GiseleD — Tue, 14 Jan 2020 20:48:50 GMT

Under Income & Expenses (tab at the top of your screen), click Review next to Self-employment income and expenses (this assumes that you have already entered your self-employed income).

Click Review again next to the specific self-employed activity and scroll down to the Expenses category.
Click Add expenses for this work.
A list of expenses will pop up. Click the button next to Inventory and click Continue.
Proceed through the inventory interview questions to enter details about your inventory.

Re: Where do I enter the inventory method for COGS?

Carl — Tue, 14 Jan 2020 22:09:26 GMT

Take special note that in the business profile section you *MUST* select the option to indicate that your business *DOES* carry inventory. If you don't select that option, the program will never ask you about inventory.