I've owned a food cart for a few months and am getting ready to do my first real inventory count for end of year taxes and to get started on monthly inventory for getting a much better handle on food costs. I found a simple enough spreadsheet online that I'm tweaking, coming from a software background, this doesn't look like rocket science. One question I do have is what do I do in relation to inventory both in regards to taxes and food costing for items that I make ahead of time in mass quantity and then freeze? The specific item that comes to mind is a spicy green chutney that I make. I buy the ingredients (cilantro, serranos) at case size to get a better deal, make the chutney, then freeze it in deli containers that I take out and defrost as needed. It doesn't loose quality and is a great way to reduce daily labor (as it's currently just me). The ingredients for the giant batch of chutney cost about $60, it is $245 worth of product if people buy it a-la-carte (2oz and 4oz portions) but it also comes in smaller quantities as part of some full platters. What do I write down in inventory and most importantly into my books? From a tax POV, it would definitely be better to just track the cost of the ingredients so I don't show as much, but from an assets and valuation perspective in my books, I have product that's worth more than just the raw ingredients. It realize it's not that much $ for most folks, but since I'm just starting out, I'm working with pretty low numbers.