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For "Cost of Purchases" under "Inventory/Cost of Goods Sold", do I include the tax and shipping that I paid for the items I keep in my inventory for direct sales?

Forum|Forum|7 years ago
June 4, 2019
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Best answer by CynthiaR

Cost of Purchases under Costs of Goods Sold would include all costs associated with purchasing the items for sale such as cost, sales tax, and freight (whatever it costs you to buy the items).

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CynthiaRAnswer

Cost of Purchases under Costs of Goods Sold would include all costs associated with purchasing the items for sale such as cost, sales tax, and freight (whatever it costs you to buy the items).