Building Material Suppliers

Tax accountant serving owners of hardware stores/lumber yards

Barry's Accounting Services has clients in your industry. They are franchises and independent corporations. Here is what Barry knows about your industry and the industries that are affiliated with your industry.

Economic activities and seasonal changes are the forces that shape the operation of your business. A seasonal change can change the emphasis/orders from air conditioners, window screens, and garden hoses to heating units, storm doors/windows, ice melters, snow blowers, and shovels. A storm/hurricane weather forecast will present orders for significant quantities of plywood, nails, screws, electrical saws, and hammer and screw guns before the storm arrives, and large orders/stockpiles of carpentry, roofing, masonry, painting, electrical and mechanical products, materials, and supplies when the storm has ceased/abated.

Some material suppliers carry in excess of 1,500 items in their inventory and this requires a determination as to whether the inventory should be valued at cost, lower of cost or market, retail method, or other appropriate valuation method.

Advantages of the retail method of inventory valuation

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