USA Line #41 Schedule C

Joined
Aug 1, 2017
Messages
1
Reaction score
0
Country
United States
I am wondering if anyone can tell me where the number that goes in Line # 41 on a Schedule C? I am currently in the process of
getting a SBA Loan and I was looking at the Profit Loss Statement. I can identify each number except this one. I read the
IRS book about it being left over stock, but our company doesn't really have left over stock, as we are a machining company. Looking for anyone insight into this?
 

Drmdcpa

VIP Member
Joined
Aug 2, 2017
Messages
499
Reaction score
42
Country
United States
Line 41 of sch c is ending inventory. Machining companies have inventory because they have raw materials, work in process, and finished goods, even if they are small.

Ending inventory is needed to calculate COGS. Beginning plus purchases less ending equals COGS
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top