I have a new S Corp client. Their gross receipts will be less than $26 million. Can I file as a cash basis and still report the inventory on the Balance Sheet and indicate the inventory method as hybrid.
Thanks in advance.
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Yes to cash basis and inventory on the balance sheet. What do you mean by hybrid inventory method?
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Methods used for value closing inventory: other: then i would indicate hybrid?
What exactly is a hybrid method for valuing closing inventory?
