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Without getting into any tax advice, do you know if our accountant will need our COG plus any sales tax we paid for it? Or, do they just need the total of our receipts, with or without tax. I've paid sales tax on all my goods. Not sure what to separate o

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Without getting into any tax advice, do you know if our accountant will need our COG plus any sales tax we paid for it? Or, do they just need the total of our receipts, with or without tax. I’ve paid sales tax on all my goods. Not sure what to separate out. Do they need the purchase price separated from the tax we paid?

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I think it depends on the method of accounting they chose. Mine uses the total added to the inventory but another accountant I know keeps a complete list

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good grief, I wish there was a black and white.

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No you don’t need to break down your sales tax with items purchased with Cogs.

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The tax you paid will be part of COG.

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