Accounting for a retail business comes with the challenge of calculating and tracking inventory. Here are some methods you can use.
Keeping an accurate record of your money is vital for every business, but some aspects of retail set it apart from other industries when it comes to accounting. Mainly, you have the daunting but necessary task of tracking inventory. Tracking your inventory has to include calculating costs as well as monitoring the number of each item you have in stock. This is an essential piece of accurate accounting.
