Companies have used the retail method of inventory accounting for many years. According to the Committee on Ways and Means, the retail inventory method has been the best accounting method since 1941.

Business must carry inventory so that they have raw materials for manufacturing and finished goods to sell. When a business holds inventory, it must account for the inventory for tax, accounting and ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. To determine the value of ending inventory and, ultimately, ...

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