(1) The provisions of this part are supplemental to any agreement between:
(a) the retailer and wholesaler, manufacturer, or distributor governing the inventory, signs, special equipment, or special tools; or
(b) the wholesaler and manufacturer or distributor governing the inventory.
(2) The retailer or wholesaler may elect to pursue either contract remedies or the remedy provided in this part. An election to pursue contract remedies does not bar the retailer's or wholesaler's right to the remedy provided in this part with regard to any inventory, parts, signs, special equipment, or special tools that are not included in contract remedies, provided that the retailer or wholesaler is not entitled to recover more than one time on any claim of loss or damage.