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.

Discover how absorption costing is used in GAAP for external reporting. Learn its components and why it's essential for understanding manufacturing costs.

Small business accountants can use one of four distinct inventory costing methods to account for the cost of goods sold. Different inventory costing methods are best suited to different situations and ...

Jeff is a writer, founder, and small business expert that focuses on educating founders on the ins and outs of running their business. From answering your legal questions to providing the right ...

TORONTO, Ont. – When it comes to providing an effective means for costing a company’s products or services, Kenneth Manning, president and co-founder of the Transportation Costing Group (TCG), said it ...