Hi. i didn't sell anything this year, but i had to throw away some inventory since it expired.
if my COGS is say 8000 and i throw away 1500 of inventory, then do i reduce my COGS to 6500?
then where to do i list my 1500 of inventory that i'm writing off / throwing away?
Expert Reviewed
Your end of year inventory value will simply be $1,500 less, which will result in an increase to your COGS of $1,500.
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