When I receive new inventory do I record it as an inventory asset for just inventory. Second question do I put the price in as the cost to me or the price I’m selling the item to my customers for please respond thank you
The items I sell are purchased from vendors, I hold them in inventory until sold. How do I account for the inventory items when I receive them, inventory or inventory asset I not sure I understand your response. How else would it be done?
Also, question2: Do I list my cost or the selling price when I enter my inventory in the system