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Sabrinaa73
April 13, 2025
Question

Do supplies used to fix up a house that is going to be sold and was bought with my business , count as inventory?

  • April 13, 2025
  • 1 reply
  • 0 views
My business is fixing up houses , remodeling, and re-sale the house. DO the supplies I used to fix up the house count as inventory?

    1 reply

    J
    JamesG1
    April 13, 2025

    I would think the items that you mention would be reported as Supplies or Tools and not Inventory.

     

    A business that purchases, produces or sells merchandise to generate income maintains those items in Inventory and generates a Cost of Goods Sold.

     

    See here.

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