Track Vinyl inventory?

[jchristians]

Wondering if you all do this for year end reporting purposes? Needed? I have no idea how you'd be accurate on this!

 

[eahicks]

Report to whom?

 

[BIG EASY DOES IT]

At the end of the year we count all unopened boxes. If any rolls were freshly opened and above 70% left, we count those as full rolls also. Everything else gets counted as used. This makes it easy for us. Everything is accounted for one way or another. Either a full roll used or a full roll unused.

 

[BIG EASY DOES IT]

Report to whom?

I assume he means for Tax purposes at the end of the year.

 

[Suz]

Yes, we do check to see what we have "on hand" at the end of each year and report that when we file our annual tax returns.

 

[rjssigns]

Report to whom?

IRS. It's a part of your carrying costs.