Inventory Problems

[abidprice4u]

Where may I find total dollar amount inventory to sell on ebay that is left from 2018?

Regards:

abidprice4u

[abidprice4u]

No.. I am looking for amount I have to make online left from 2018. I have sales.  I need  whats left to sell.

[abidprice4u]

yes she wants the value.. thank you ...I could  not think of the right word I was looking for.

[abidprice4u]

Yes she wants the cost of inventory … I thought I had seen it on a page before.  Now cant find it,

[lacemaker3]

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@abidprice4u wrote:

No.. I am looking for amount I have to make online left from 2018. I have sales.  I need  whats left to sell.

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The purchase price of your listings that you had left on eBay at the end of 2018 is NOT what your accountant needs to know.

The value of your inventory at the end of the year is what you paid for it, not what you hope to sell it for. That has nothing to do with what you listed it for on eBay. eBay has no way to record what you paid for the items you have to sell.

I think you must have misunderstood what your accountant asked you for. Or she didn't explain it well.

[a*river*runs*through*it]

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@abidprice4u wrote:

Yes she wants the cost of inventory … I thought I had seen it on a page before.  Now cant find it,

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Only YOU would know the cost of your inventory. Don't you keep track of that anywhere?

[gopetersen]

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@abidprice4u wrote:

Yes she wants the cost of inventory … I thought I had seen it on a page before.  Now cant find it,

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The COST OF INVENTORY is what YOU PAID for the items you sell. As I said before, eBay HAS NO WAY OF KNOWING what you paid for the items you sell.

Only you know what you paid for the items you sell.

1) If you are downsizing and selling items you've had for years, you can only include Cost of Inventory for items for which you have receipts. You have to be able to document what you paid for them. The tax department wants receipts.

2) If you are buying wholesale and selling retail, then the COST OF INVENTORY is what you paid FOR THE ITEMS YOU SOLD. Add up your receipts. If you don't have receipts (or a log of items purchased, as from garage sales), then you cannot include them. The tax department wants you to have receipts for items you declare.

If you bought 10 widgets for $1.00 each and sold all of them for $5 each, then your Cost of Inventory is $10.

[luckythewinner]

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@abidprice4u wrote:

Yes she wants the cost of inventory … I thought I had seen it on a page before.  Now cant find it, 

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1) As far as I know, eBay does not track inventory cost. And the only way they could track it was if you gave it to them. 

2) On this account I see 186 feedback since 2002 and 178 items for sale. So I am going to make the assumption that you are nowhere close to selling $1 million a year, let alone $25 million. 

If so, you are almost certainly a "small business taxpayer" as explained in IRS Publication 334. If so please ask your "tax lady" why you are not accounting for your inventory as "materials and supplies that are not incidental" so that you do not even have to account for inventory other than keeping track of the COGS during that tax year. 

[abidprice4u]

I pay taxes every 3 months.  She said if it wasn't for Ebay I could have filed  short form.  So she wanted what I had left in inventory and  then she wanted  what I had bought in inventory for the year.  I lost $62.00 because she said I owed  that to the  government. I didn't understand because I had already paid on what I made.  Any way it is done.

Thank you any way  Cathy 🙂

[abidprice4u]

Also I think you may have been looking at someone elses.   I have  sold more than 178 items.   I think the total was $45,000 since I have been selling.  Cathy 🙂

[kateinthe26th]

Go to  'Manage active listings page' in the seller hub.... you will see your dollar amount in  VERY LIGHT GRAY font near the top of the screen located right above 'Edit" 'Sell Similar" 'Actions'  

The hub is the only place i could find it , it's no longer where it used to be .

this will show you the total dollar amount you have for sale right now but its only a ROUGH guide as you have obviously got to deduct your profit margin that you add on to your items and also collate it with your inventory purchase receipts but it's better than nothing if you haven't been keeping track of any of this during 2018.

For your tax stuff remember its only up to 31st December 2018 if you are doing a yearly tax return...if you just bought a bunch of new stock January don't include that as that will go on 2020's tax return.

[kateinthe26th]

Sorry, didn't see that you wrote that you do returns every 3 months but this will work for that too

if you don't have the seller hub i am not sure where you would find the info now....it used to be on the bottom of every page of 'My Ebay Selling' but that changed a few months back.

in the hub

scroll down left hand side to Active Listings....click that

 'Manage active listings page' will open up

 in light grey font near the top of the screen right above 'Edit" 'Sell Similar" 'Actions'  you will see the dollar amount you have your items listed for currently

Hope this helps, hope i understood your question