Hello everyone - new to the forum but am excited to be here.
I am converting my hobby (collecting books) to a business (selling books). How do I `convert` my collection of books into my start-up inventory? I do not have receipts for all the books and some were gifts or free. I`m just not sure how to translate this all into a start-up inventory. Do I assign a value and based on what? Does my business `buy` the inventory from me? As you can tell, I have no idea where to start so any help would be truly appreciated.