1120S - how to handle Cost-of-Goods sold?


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Hi - i'm a very small company, and I dont hold any inventory. I sell a few items throughout the year, and purchase them as I make sales. As I list the items in QuickBooks, they are assigned to a Sales Expense account on the purchase side.

Where do I list these items on my return? do I put them in the COGS section (I'm thinking this is not the case since I dont buy and hold inventory), or do I just add the Sales Expense figure on the "Other expenses" sheet of my return?

Thanks
 
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personally and im not suggesting that this is right by any stretch but i put material and parts and pieces etc... in cost of goods sold. i do that for both inventory items and items that i bring in for a specific job say like when i run a machine job that has $5000 of steel (which i do about 5 times a year for a customer) as i cant carry that much overhead in my inventory and then when i buy material for inventory say like tubing. all that goes into cogs in my quickbooks and everything else gets divided up between reimbursements, tooling etc...
 

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