I run a business that buys, renovates and resells homes. Therefore, our primary sales income comes from the sale of these renovated properties. Because we buy and sell quickly, these properties are treated as inventory as opposed to fixed assets.

We need to be able to track each home as an individual inventory item that includes the purchase price, renovation costs and closing costs.  Upon the resale of each property, we need to assign the cost of each piece of inventory - cost of goods sold - to the sale of the property.

It is important for our company to be able to track the following items as separate costs of inventory that are assigned to each property because we need to track our profit margins for each individual property:

• Purchase Price of Property
• Closing Costs
• Renovation Costs

What is the best way to track this using Quickbooks Online?