I am a long standing business (several years online retail) and havent kept good records over the past years and am finally tempting to start proper book keeping and accounting now. I am attempting to start a new quicken from Nov 1st but how do I account for the value of all my existing inventory (high value jewelry) items without proper records of when and how I purchased them all? I am not concerned about necessarily tracking each item more than knowing how much I have in value. I used to mix personal and business accounts and credit cards so its a mess, but I am going to keep it properly separated beginning Nov 1st.
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