Taxes - Inventory Question

I have a jewelry business and I have a question regarding my inventory do I have to count each piece? @TTaxLisa

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Yes, you should count every piece of your inventory.  This is because the value of your current inventory versus what it was at the end of last fiscal year is part of the calculation of your profit/loss for the year.  Without accurate inventory figures, your tax submission will probably be wrong.

Judy T Shumway
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