If you file a schedule C until the month you incorporate does your year end inventory on the Shed.C become $0?

We are moving all year end inventory from Sole Proprietor to C-Corp mid year. I would think then your cost of goods sold would be more than it actually was. But if you are now moving to a Corporation with your inventory, then you would not be filing another schedule C. I am confused!!!!

If you file a schedule C until the month you incorporate does your year end inventory on the Shed.C become $0?
YES. the inventory you pull out is offset by the equity equal to that inventory you pull out - it doesn't affect your cost of goods sold. you use the final inventory value before the withdrawal to calculate COGS. You should get an account to do your taxes this year for the Sched C, so you don't get in any tax trouble

gifts