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.
Net Realizable Value for Inventory. When a business purchases an inventory item, it records the cost it paid for the item on its balance sheet as the item's historical cost. Inventory items depreciate over time and may not be worth their original price in the future.