Department of Treasury August 15, 2014 – Federal Register Recent Federal Regulation Documents

Retail Inventory Method
Document Number: 2014-19275
Type: Rule
Date: 2014-08-15
Agency: Internal Revenue Service, Department of Treasury, Department of the Treasury
This document contains final regulations relating to the retail inventory method of accounting. The regulations restate and clarify the computation of ending inventory values under the retail inventory method and provide a special rule for certain taxpayers that receive margin protection payments or vendor allowances that are required to reduce only cost of goods sold. The regulations affect taxpayers that are retailers and use a retail inventory method.