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I'm trying to get away from: "price of goods sold", inventory taking, accrual method, etc. Permit me to explain:
We have a Quilting business, where people bring their Quilt Tops in for us to quilt on our Long Arm Quilting Machine. We charge "x" amount for this service, depending upon size of quilt and amount of "batting" and "backing", thread, etc we use. We, usually, supply these materials, as we have these on hand. Are we required to keep inventory on these materials, thus showing "price of goods sold", OR, can we include our cost for these materials into the total price we charge for quilting someone else's quilt? Also, there are times, where we make the entire quilt, using all of our materials. Can we charge one price for the quilt that we sell, and not have to be concerned about "price of goods sold", taking inventory, accru
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