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Level 1


 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 

Level 15


if you are using inventory type items, that is not the way it is designed to work.  Posting a purchase to inventory asset is only done if you are doing periodic inventory.


So the question is do you have the plus version and are you using inventory type items

Level 1


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


Thanks for your assistance.

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