I started a new company as of 2014.. And the company has beginning inventory balances from 2013. I've entered those in and it is totally jacking up my Income Statement.. In my, obviously wrong mind, the beginning balances from the previous year, shouldn't effect this years costs.. What's happening is that I end up having a negative COGS because of this beginning balance, which makes absolutely no sense.. and as a result is making my gross profit number ENORMOUS.. when it shouldn't be.. Can anyone shed a little light on my dim mind?? Thanks! Todd
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