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.

Retail businesses have unique accounting challenges. Here's a guide that will get you through the basics. Many, or all, of the products featured on this page are from our advertising partners who ...

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 ...