Shrinkage-loss

[gman]

Florist ends up throwing out old unsold flowers and thinks they should have a deduction for this. I told her the cost of the flowers are already deducted in purchases. Any other way to explain this?

Thanks

[BOB W]

Florist ends up throwing out old unsold flowers and thinks they should have a deduction for this. I told her the cost of the flowers are already deducted in purchases. Any other way to explain this?

Thanks

I have run across people that want something for nothing many times. This is just another case of this. You did all you could because no matter what you say it is not enough.........

Sorry you have got one of them too.

[Matt Sova]

No time.

You already deducted the cost of the flowers because you are cash basis. If you had inventory then the inventory would be reduced for the cost that you threw out. Because you did not include the retail price of the flowers in income you cannot deduct the retail price in expenses. If you, Mr. Client, do not understand this then there is nothing more I can do for you and have no more time to explain it.

[gman]

Purchases

I am assuming they ran it through purchases and did not count it in inventory . It was disposed of throughout the year.

????correct