USA New member [non-accountant]


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Hi All

No formal accounting training and just about enough reading to make sure we do our own taxes correctly. We have a small business which carries an inventory and a (theoretical) question came up about accounting for inventory for tax purposes. I say theoretical because we use the accrual method and do the usual practice of beginning and ending inventory with purchases and 'withdrawals' to figure a COGS.

If interested, the thread [Inventories; cash or accrual basis] is here at
https://www.accountantforums.com/inventories-cash-accrual-basis-t142017.html

See you around maybe.
 
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Becky

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Hi there John, welcome to the forums :)

I'm afraid I don't know the solution to your query myself, but hopefully someone will spot it shortly.
 

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