Converting COGS to store-use while factoring in depreciation
I own and operate a computer repair shop. If I purchase a computer for resale, I usually associate the transaction with my COGS account. Sometimes when a computer does not sell after a certain amount of time, I use it as "store use" and swap out an older computer an employee uses for the new one I couldn't sell. What is the best way to account for this, and are there any significant tax ramifactions of doing so? Also, is there any further depreciation I can claim?
Thanks so much, in advance.
-Donnie


