How do you figure your inventory on hand at a retail business other than exact physical counts? and id this acceptable to the IRS?
Tracy L. Coenen is WalletPop's Tax Expert and Fraud Expert
You must either do physical counts or have a reliable system that tracks all of your inventory, so that at any time, you can look at the data in the system and be confident that it's giving you a correct number for inventory.
Got an answer for Nillcarlson? Would you like to comment on the posted answers, or vote for the one which you think is the best?
Sign up for a free account, or sign in (if you're already a member).
Other people asked questions on similar topics, check out the answers they received:
Other people asked questions on various topics, and are still waiting for answer. Would be great if you can take a sec and answer them
