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    Ezeigwe1's Avatar
    Ezeigwe1 Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Aug 5, 2014, 12:19 PM
    Profit/Loss Statement
    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.
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
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    #2

    Aug 5, 2014, 04:18 PM
    You don't have any profits or losses since you haven't sold anything, the items are considered assets.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #3

    Aug 5, 2014, 04:32 PM
    In the income statement you have the line item purchases and you also have the line item closing stock
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