The Tennessee Inventory Form is a document used by the Tennessee Department of Revenue to help taxpayers calculate the value of taxable inventory for sales and use tax purposes. The inventory form is completed by the taxpayer and used to calculate the value of items held in inventory. The Tennessee Inventory Form can be used for both periodic and perpetual inventories. The periodic inventory is used for taxpayers that take physical inventories and the perpetual inventory is used for taxpayers that use the average cost method. Both types of inventories require the taxpayer to list all items held in inventory, the quantity of each item, and the cost of each item. The Tennessee Inventory Form also includes instructions and a worksheet to help taxpayers complete the form accurately.