Accounting Articles > Import / Export Industry:

Inventory values in the import / export industry

One of the issues that we deal with in Import / Export Accounting is when does a shipment of inventory actually become our property?

Is it ours when they put the container on the ship in China, or is it ours when it is delivered to our warehouse? From the standpoint point of the inventory value of a load, do we include the cost of shipping it from the warehouse to the customer? If it gets damaged on the way to the customer, and it is returned, what is it worth?

The correct answer to these questions could greatly reduce your income taxes.

As highly recommended CPA's and EA's in the Chicagoland Area that specialize in this industry, we have developed several solutions for these problems. Don't try to handle this by yourself. Call Chris Amundson at (773) 267-7500 today. The Special Accounting Packages section of this page may have what you need. Whether you have a new business, an audit, need returns filed, or just a second opinion, we can help. We can help you solve these problems and get your company through this difficult economy. Call or e-mail our offices today.