Itâs important to note that married filing separately is not the same as filing as a single person. In most cases, it doesnât make sense to file separately because a married couple will usually end up paying more total tax with two returns.
Inventory costs are the costs related to storing and maintaining its inventory over a certain period of time. Typically, inventory costs are described as a percentage of the inventory value (annual average inventory, i.e. for a retailer the average of the goods bought to its suppliers during a year) on an annualized basis. They vary strongly depending on the business field, but they are always quite high.
Retail Accounting vs. Cost Accounting. Inventory management is an important aspect of every retail business. To maximize profits, companies need the right amount of inventory items at all times. Inventory count determines both inventory shortages and the amount of inventory on hand at any time. In accounting, a business must establish the cost basis of this inventory. Cost accounting is a more conservative inventory valuation method that values inventory based on its cost. Retail accounting, on the other hand, values inventory based on items' retail price.