A friend of mine has a small used car business where he buys used cars, fixes them up, and resells them. Do the car parts he buys go into cost of goods sold or are they expensed? If they go into cost of goods sold, must he keep track of every part that goes into the car and increase the cost basis of the car by that amount?
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
