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2022 December Solutions Room: Alternative Ending Inventory Valuation Methods
IRS Program #: X9QQU-T-00910-22-O
CTEC #: 6257-CE-0104
CE: 1 IRS credit & 1 CTEC credit (for live attendence only)
Speaker: Frank S. Lin EA, MBA, CPA
We’re solution focused. Register for this webinar for insight about the latest tax law changes (and the challenges they create) directly from leading experts in the tax industry. The session will conclude with a Q&A session – be prepared to ask questions of our experts!
Alternative Inventory Valuation Methods for Small Businesses
How does your local family-owned restaurant calculate their ending inventory without the financial resources to purchase sophisticated tracking hardware? In this course we detail issues small businesses face with valuing ending inventory using traditional methods such cost, lower of cost/market, and retail method and offer alternative solutions as well. Additionally, we will cover some tax implications and strategies of using these alternative methods.
- Refresher on what is included in inventory vs. supplies
- Understand traditional ending inventory valuation methods, pros/cons, and which industries may benefit
- Introduce and offer alternative valuation methods