WASHINGTON -- Kroger Co., Cincinnati, and Wal-Mart Stores, Bentonville, Ark., were victorious here in separate challenges to the way they calculate inventory shrinkage. ich was attempting to collect back taxes. The IRS argued that retailers should be required to do regular inventory audits in calculating shrink. However, the Tax Court ruled the retailers could continue to estimate those losses based on past experience, a common retail practice.
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Why Register for FREE?
Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick. What are you waiting for! In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Attention Paid Print Subscribers: While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.