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emilio
New Member

My ending inventory for 2018 is different than my beginning inventory for 2019.

I'm an independent book publisher. I sold all copies of one book and had to print more. Thus my ending inventory for 2018 is different than my beginning inventory for 2018. After entering this information I added the explanation for the difference in inventory. I then entered the cost of goods sold for 2018. But it doesn't show up. I still had a cost of goods sold for books sold in 2018.

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Accepted Solutions
CynthiaR
New Member

My ending inventory for 2018 is different than my beginning inventory for 2019.

This is how it works for Cost of Goods Sold:

Beginning Inventory                                       $1,000

Cost to print more books                                10,000

                                                                        11.000

Ending Inventory                                          -    2,000

Costs of Goods Sold                                       $9,000


You would let TurboTax calculate the cost of goods sold by putting in purchases, beginning and ending inventory

View solution in original post

2 Replies
CynthiaR
New Member

My ending inventory for 2018 is different than my beginning inventory for 2019.

This is how it works for Cost of Goods Sold:

Beginning Inventory                                       $1,000

Cost to print more books                                10,000

                                                                        11.000

Ending Inventory                                          -    2,000

Costs of Goods Sold                                       $9,000


You would let TurboTax calculate the cost of goods sold by putting in purchases, beginning and ending inventory

emilio
New Member

My ending inventory for 2018 is different than my beginning inventory for 2019.

That makes sense. An example like yours would have been helpful.
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