165.Explain the reason a company might use the retail inventory method for valuing inventory. 166.Explain the reason a company might use gross profit inventory method for valuing...

165.Explain the reason a company might use the retail inventory method for valuing inventory.

166.Explain the reason a company might use gross profit inventory method for valuing inventory.

167.Sarbanes Oxley (SOX) demands that companies safeguard inventory and properly report it. List methods that companies should use to safeguard inventory and accounting procedures that should be used to properly report inventory.