I buy collections from private persons and sell them professionally.
Suppose I buy a collection for €1,000 and sell part of it. How do I correctly value the remaining part of my ‘inventory’ on 31 December? Since this is difficult to express per item, each item in the collection has a different value.
Then I think you'll have to make your own estimate... As good as possible :)
An auditor won't be an expert in this either, probably less so than you. So I would be truthful, but don't lose too much sleep from it. If the amounts are really large, you could look up some documentation... If you can find on a website that a particular item is worth a certain amount, take a screenshot and keep it as proof. Maybe that's overkill, though.
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.
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