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R
RCT1
Level 1
April 11, 2025
Question

Cogs beginning and ending inventory

  • April 11, 2025
  • 1 reply
  • 6 views

in an 1120S, the line 1 on the M-1, the book income does not tie to my books, by the same amount of the adjustment from the COGS difference in beginning and ending inventory. what do I need to do to get the return to tie to my books on the M1?

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    1 reply

    sjrcpa
    sjrcpa
    Level 15
    April 11, 2025

    Jiggle the purchases number in COGS til it comes out right.

    The more I know the more I don’t know.
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