Difference between revisions of "Retail method"
(Created page with " Retail method is a method used to determine the value of the ending inventory using a cost-toretail ratio. Often used for interim financial reports. *Gross profit metho...") |
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| − | + | [[Retail method]] is a method used to determine the value of the ending inventory using a cost-toretail ratio. Often used for interim financial reports. | |
| − | [[Retail method]] is a method used to determine the value of the ending inventory using a cost-toretail ratio. Often used for interim financial reports | ||
==Definitions== | ==Definitions== | ||
According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
| − | :[[Retail method]]. A method used to determine the value of the ending inventory using a cost-toretail ratio. Often used for interim financial reports | + | :[[Retail method]]. A method used to determine the value of the ending inventory using a cost-toretail ratio. Often used for interim financial reports. |
==Related concepts== | ==Related concepts== | ||
*[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]]. | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]]. | ||
| − | ==Related | + | ==Related lectures== |
*[[Principles of Accounting]]. | *[[Principles of Accounting]]. | ||
| − | [[Category: Accounting]][[Category: Articles]] | + | [[Category: International Accounting]][[Category: Articles]] |
Latest revision as of 14:17, 5 January 2019
Retail method is a method used to determine the value of the ending inventory using a cost-toretail ratio. Often used for interim financial reports.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Retail method. A method used to determine the value of the ending inventory using a cost-toretail ratio. Often used for interim financial reports.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
