Business expense - cost of goods sold

[Mo__]

Quick question, if I buy inventory at the end of the year and is being used in next year, so I show that entire cost of inventory at one time or do I only show cost of goods sold as it's sold.

[MinhT1]

Cost of goods sold is counted only when the goods are sold. It is a calculation. COGS = Beginning inventory + Purchases - Ending inventory.

Any goods left unsold at the end of the year is counted as Ending inventory (at cost price).

[Mo__]

Does the ending inventory get reported on the tax form?

[RobertG]

Yes, ending inventory goes on Schedule C line 41.

The cost of goods sold calculation is shown on lines 33-42 of Schedule C.  Cost of goods sold is shown on line 4 as well.