Apply a bead of glue along one side of center piece of wood (Image 1). Quickly spread glue with a fingertip then lay it flat and butt against right-side piece (Image 2). Apply glue to right side of left piece, spread with fingertip and butt against left side of center piece (Image 3). Make sure edges are lined up.
To figure taxable income, you must value your inventory at the beginning and end of each tax year. To determine the value, you need a method for identifying the items in your inventory and a method for valuing these items.
A method of inventory valuation for financial reporting purposes where a physical count of the inventory is performed at specific intervals. This accounting method for inventory valuation only keeps track of the inventory at the beginning of a period, the purchases made and the sales during the same period and is recorded under the asset section of the balance sheet.