Retail Inventory Method
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Retail Inventory Method
Inventory technique using the cost method of accounting. Similar types of merchandise are pooled for purposes of estimating an average percentage of cost to retail price.
That percentage is applied to the inventory to estimate cost of inventory.
The retail inventory method, also called cost method, can use either the physical inventory of counting merchandise on hand or the book inventory system (perpetual inventory system).
See also cost accounting.
That percentage is applied to the inventory to estimate cost of inventory.
The retail inventory method, also called cost method, can use either the physical inventory of counting merchandise on hand or the book inventory system (perpetual inventory system).
See also cost accounting.
| Retail Display Allowance, Retail Credit, Retail | |
| Retail Outlet, Retail Rate, Retail Trade Sales and Food Service Sales |
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Barron's Business Dictionary
Dictionary of Business Terms. Copyright © 2007 by Barron's Educational Series, Inc. All rights reserved.
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