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Is the gross profit or retail method of inventorying best?

April 26, 2017best gross inventorying method profit retail

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Is the gross profit or retail method of inventorying best?

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Depending on the type of business, e.g. retail businesses would rely on the retail method for estimating inventory; or a business such as a construction business or a non-retail business with a large amount of inventory would likely rely on the gross profit method.