Inventory

I purchased a lot of items for resale that haven't sold and just sitting here. Can I claim that as an inventory deduction?

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Inventory has to be valued at cost, not ‌at sale price.

Ending inventory isn't exactly a deduction.

It's used to calculate Cost of Goods Sold (COGS).

COGS = Beginning Inventory + Purchase - Ending Inventory.

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Do you have an Intuit account?