Year End Inventory for COGs

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  • AZ-Tax
    Senior Member
    • Feb 2008
    • 2604
    #1

    Year End Inventory for COGs

    Received clients P&L and Balance sheet. Prepared S-Corps 2008 tax return and have a 12/31/08 ending inventory that carried over to 09 as beginning inventory but the P&L and/or Balance sheet does NOT display a 12/31/09 "year end inventory". Is that suppose to appear on either the P&L and/or Balance sheet and if so where at? If not do I need to contact the bookkeeper?
    Tags: None
    • oceanlovin'ea
      Senior Member
      • Jun 2005
      • 2682
      #2
      Inventory is an asset so it should be on the balance sheet.

      If not, you would definitely need to contact the bookkeeper.

      Linda

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