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What does obsolete mean

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Reference no: EM132734271

Inventory is a critical asset for retailers. Retail firms are at risk that their inventory will become obsolete.

Problem 1: What does obsolete mean?

Problem 2: Talk with a local retailer in your area and tell us about what they say they do to minimize this risk?

Problem 3: Describe how they should account for the loss from that obsolescence.

Reference no: EM132734271

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