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.

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Ebony Howard is a certified public ...

In manufacturing facilities, equivalent units of production are calculated to determine the value of a department's work-in-process inventory at the end of an accounting period. EUPs represent the ...