Financial statements for a durable goods company Chicago Illinois

Updated July 24, 2015
Durable Goods Company Financial Statements Chicago Illinois

The main difference in these types of financial statements is inventory. The problem is generally a valuation issue.


If your in the business of selling used automobiles then you have an inventory which in general, will go down in value every single day that it sits on your lot. If you were in the business of selling fresh fruit, it doesn’t generally decrease incrementally. It can either be sold, or it spoils and is a complete write-off.

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Chris Amundson is the President of Accounting Solutions Ltd., a full service public accounting firm of Certified Public Accountants and Enrolled Agents handling the bookkeeping, accounting, tax preparation, and audit representation needs of Businesses, Estates, Trusts, and Upper Income Individuals