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.

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of ...

Multiple inventory control methods exist including aggregate control, item level control, ABC analysis, economic-order-quantity and lot-size methods. Small companies that find it difficult to ...