Method to estimate inventory based on standing relationship of cost to sales price. 2. Used by merchants to estimate inventory.
1.Method to estimate inventory based on standing relationship of cost to sales price.2. Used by merchants
to estimate inventory.
3.Selling price, minus completion and disposal costs.
4. Most recent costs remain in inventory.
5. Beginning Inventory + Purchases
A.Retail method
B.FIFO
C.Goods Available
D.Net realizable value
E.Gross profit method