I have inventory of many collectible items that I just started listing on Ebay. I have not sold any yet. How do I post this in my profit/Loss statement? My bank is requesting for a profit/ lost statement.
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I have inventory of many collectible items that I just started listing on Ebay. I have not sold any yet. How do I post this in my profit/Loss statement? My bank is requesting for a profit/ lost statement.
You don't have any profits or losses since you haven't sold anything, the items are considered assets.
In the income statement you have the line item purchases and you also have the line item closing stock
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