Hello. We are used car dealership. We bought car from auction for resale (price include car price and auction fee). What category of expenses should I put it in?
Hello. We are used car dealership. We bought car from auction for resale (price include car price and auction fee). What category of expenses should I put it in?
There is no expense until the car is sold, the cost of the car plus fees and fix up repairs are all part of the car cost, usually an inventory item.
