Margaret CPA in OH Posted July 15, 2009 Report Share Posted July 15, 2009 A new client sells bottled olive oil imported from coop where grandmother sells the oil pressed from family olive groves. I am setting them up on QB but am a bit uncertain about inventory. They have liters of oil and 2 sizes of bottled product. I believe the bottles, caps and labels would be supplies not really components. They may sell larger quantities of the oil, not just the bottled product. They also will be preparing baskets for the holidays with oil, chocolates, etc. I think those other items would also be supplies but they would like to have a count on hand of the completed baskets. So I'm thinking to have as inventory those items ready for sale as well as the bulk oil but am not sure how to do that when the oil is also part of the finished products. The only other clients I've had with inventory had products for resale. Any hints and guidance are welcome! Quote Link to comment Share on other sites More sharing options...
TAXBILLY Posted July 15, 2009 Report Share Posted July 15, 2009 This may or may not be of help: http://en.wikipedia.org/wiki/Inventory#Spe..._with_inventory taxbilly Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted July 15, 2009 Author Report Share Posted July 15, 2009 Thanks much, Taxbilly! Why didn't I think of that? Actually, I've never used Wikipedia so this will be a good experience. I think I should dig out my old accounting books, too, to see if there is some applicable, basic info. Thanks again! Quote Link to comment Share on other sites More sharing options...
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