Category: Inventory

Inventory Management 101 – the critical component of your business and taxes

Generally, if you produce, purchase, or sell merchandise in your business, you must keep an inventory. ┬áThis inventory, and the management of it, directly impacts the profitability of your company and is recorded on your income taxes in terms of Cost of Goods and Inventory Valuation. Many small business who sell products do not ┬ámanage…

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