Paying for leftover inventory

Paying for leftover inventory

source-image
May 01, 0004

A recently hired associate brought in leftover inventory items she had from a previous practice. Do you have any guidelines on how much I should pay her for the inventory?

"This isn't a common issue," says Veterinary Economics Editorial Advisory Board member Gary I. Glassman, CPA, a partner with Burzenski & Co. PC in East Haven, Conn. "But if the supplies are unopened and within the expiration date, I'd ask the associate to bring in the purchase invoices, and I'd pay her what she paid for the items." One caveat: "If you could buy the items cheaper now, then just pay the replacement cost based on today's price," he says.

Hot topics on dvm360

Pol on defense as Michigan veterinary board discusses negligence charges

Controversial reality TV veterinarian calls his approach 'common sense.'

Photo gallery: The top 10 veterinary schools in America, according to U.S. News

U.S. News & World Report ranks programs for the first time since 2011.

Front Desk Disasters, Episode 3: Dude looks like a lady

Everyone's favorite receptionist is at it again. Would you handle this situation differently?

Video: Flea hideouts in the house

Parasitology expert Michael Dryden, DVM, MS, PhD, reveals prime hideouts for fleas—and gives tips to clear them out of clients' homes for good.

Veterinarians: Your clients are going to Google with these cat questions

You might be surprised by what your clients are researching. Plus, get an educational client handout.