Inventories (Retail)

{
  "id": "MLC-T-ECS-000999",
  "term": "Inventories (Retail)",
  "field": "Economic statistics",
  "definition": "Merchandise inventories are the value of stocks of goods held for sale. The inventories estimates represent the value, at cost, of the merchandise available for sale.\n\nMethods of valuation may vary according to the accounting practices of each firm. LIFO is a method of valuing inventory where the latest items of merchandise added to the inventory are the first ones taken out. Non-LIFO would mean that another method, such as FIFO (first in, first out), was used to establish the value of the inventory available for sale.",
  "see_also": [
    "Inventories",
    "Inventories (Manufacturing)"
  ],
  "references": [
    "U.S. Census Bureau Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/inventories-retail/"
}