Accounting for Parts Used or Lost (for Tax Purposes)
by Mary Wong.
(San Gabriel, CA)
For tax purposes I have to report my inventory of parts.
But I never know how to bookkeep parts that fall on the floor that I can never find or wires, head pins, etc. that I use in prototyping that cannot be used again.
(I have a lot of inventory “loss”). How should I account for these?