Retail inventory method of accounting is a type of accounting system whereby the closing inventory at cost is determined by the average relationship between cost and retail value of all goods available for sale during the period.
- Additional markup
- Gross additional markup
- Gross cost of merchandise handled
- Gross cost of merchandise sold
- Initial markup
- Maintained markup
- Retailing the invoice
- Total cost of goods sold
- ^ American Marketing Association, AMA Dictionary.