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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Business Law
Satisfied Customers: 17871
Experience:  B.A.; M.B.A.; J.D.
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Hi, I have an ebay store. I sold some personal used items

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Hi, I have an ebay store. I sold some personal used items in the store. I also sold some of my son's clothing that he never wore. I don't have receipts for those. How do I give these value in my inventory/cost of goods sold. Is it $0.....the price the customer paid?
Hello: This is PhillipsEsq. I am a licensed Attorney and I will be assisting you today.

Hi, I have an ebay store. I sold some personal used items in the store. I also sold some of my son's clothing that he never wore. I don't have receipts for those. How do I give these value in my inventory/cost of goods sold. Is it $0.....the price the customer paid?



Response: You have to use the price that the customer paid for the items as the value. You cannot use zero since you did not sell the items for $0.00.
Customer: replied 3 years ago.


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