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Obsolete Inventory: Book vs. Tax Write-Off

[fa icon="calendar'] Feb 29, 2016 12:52:04 PM / by admin posted in obsolete inventory, Manufacturing

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One of the largest assets for a manufacturer is its inventory. Regardless of how lean you’re able to keep your warehouse, you will likely have to deal with obsolete inventory at some point. So how do you account for obsolete inventory? There are different rules that need to be considered for Generally Accepted Accounting Principles (GAAP) vs. tax methods.

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