Business and professional item
Show at label B the cost of direct materials used for manufacture, sale or exchange in deriving the gross proceeds or earnings of the business.
Former STS Taxpayers
If the trust is eligible and has chosen to continue using the STS accounting method, only purchases and other costs for which the trust has actually paid should be included at label B.
9-150 What is trading stock?
9-160 Calculating trading stock gross profit
9-170 Trading stock on hand taken into account
9-180 How to value trading stock
9-250 Valuation of live stock
9-290 Stock disposed of outside ordinary course of business