Paying for leftover inventory
A recently hired associate brought in leftover inventory items she had from a previous practice. Do you have any guidelines on how much I should pay her for the inventory?
"This isn't a common issue," says Veterinary Economics Editorial Advisory Board member Gary I. Glassman, CPA, a partner with Burzenski & Co. PC in East Haven, Conn. "But if the supplies are unopened and within the expiration date, I'd ask the associate to bring in the purchase invoices, and I'd pay her what she paid for the items." One caveat: "If you could buy the items cheaper now, then just pay the replacement cost based on today's price," he says.