There are two special considerations in determining the cost of goods sold: the method(s) used for the valuation of beginning and ending inventories, and the capitalization into inventory and cost of goods sold of costs incurred in the production or acquisition and resale of property per IRC Sec 263A. This program deals with these topics and how they factor into Form 1125-A, Cost of Goods Sold. This course is most appropriate for the professional with detailed knowledge of Form 1120 who may be in a mid-level position within an organization with operational or supervisory responsibilities or both.