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DOCUMENT RESUME JC 740 093ED 088 539 AUTHOR TITLE INSTITUTION PUB DATE NOTEBehrendt, Richard L. Attrition/Retention Patterns at !MC. Final Report. Hagerstown Junior Coll., Md. Feb 74RIM PRICEBF$0.75
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RIM price stands for Retail Inventory Method price, and it is a method used to estimate the value of ending inventory by applying a cost-to-retail ratio to the retail value of the inventory.
Retailers who use the Retail Inventory Method for valuing their inventory are required to file RIM price.
To fill out RIM price, retailers need to calculate the cost-to-retail ratio, determine the retail value of the inventory, and apply the ratio to estimate the ending inventory value.
The purpose of RIM price is to provide an estimate of the ending inventory value, which is important for financial reporting and inventory management.
Retailers must report the retail value of the inventory, the cost-to-retail ratio, and the estimated ending inventory value on RIM price.
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