Inventory is a blanket term used to describe the goods that a business sells. For example, a car dealership's inventory consists of the cars that the dealership sells. A bakery's inventory consists of ...

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.

Calculating the cost of goods sold gives a business insight into its performance and helps calculate profit. Many, or all, of the products featured on this page are from our advertising partners who ...