(a) To conduct a going out of business sale, a person must file an original inventory with the chief appraiser of the appraisal district in which the person’s principal place of business in the state is located. The original inventory must be accompanied by a filing fee of $20.
(b) The original inventory must include:
(1) the name and address of the owner of the goods, wares, or merchandise to be sold;
(2) the name and address of the owner of the defunct business, the former stock in trade of which is to be offered for sale, and the full name of the defunct business;
(3) a description of the place where the liquidation sale is to be held;
(4) a statement of the beginning and ending dates of the sale;
(5) a complete and detailed inventory of the goods, wares, and merchandise to be offered on the beginning date of the sale and the total cost of those items; and
(6) a complete and detailed list of the goods, wares, and merchandise to be added to the inventory after the beginning date of the sale and the total cost of those items.