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New Member
posted Jul 12, 2020 11:59:48 AM

What is work in progress end of the year?

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1 Replies
Level 5
Jul 22, 2020 10:55:16 AM

Hi,

 

Here is definition provided on CRA's website:

 

work-in-progress : goods and services that you have not yet completed at the end of your fiscal period

 

https://www.canada.ca/en/revenue-agency/services/tax/businesses/small-businesses-self-employed-income/business-income-tax-reporting/inventory-cost-goods-sold.html

 

Thank you!