How would you handle an inventory liquidation or prolonged discount period?
What’s the best way to handle cases where a business is discounting a large part of their inventory (relocating stores, seasonal stock change, etc) for a prolonged period of time?
Would you apply a discount per item for the duration of the sale? Would you create new “discounted” versions of your inventory items? And would you continue to track sales in the same income and Cost of Goods Sold (COGS) accounts, or create new sub-accounts?