Lori, thanks for joining community. Sounds like your small taxpayer can 1) operate cash basis and 2) choose whether or not to maintain inventory on the books or expense it annually.

According to Pub 538, If you are a small business taxpayer (average annual gross receipts of less than $25 million), you can choose not to keep an inventory, but you must still use a method of accounting for inventory that clearly reflects income. If you choose not to keep an inventory, you will not be treated as failing to clearly reflect income if your method of accounting for inventory treats inventory as non-incidental material or supplies, or conforms to your financial accounting treatment for inventories. If, however, you choose to keep an inventory, you generally must use an accrual method of accounting and value the inventory each year to determine your cost of goods sold.

https://www.irs.gov/pub/irs-pdf/p538.pdf

Good luck!