I had a new client come in with his books, I did the return, and he wound up owing some money. So he calls back and said his “CPA” found that his ending inventory was less than originally reported. Now all of a sudden, he is getting a refund.
He was using the HMO method for valuing ending inventory (How Much do I Owe).
He was using the HMO method for valuing ending inventory (How Much do I Owe).
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