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Which are the two main inventory accounting systems

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Reference no: EM132818002

Problem 1: Which account does a merchandiser, but not a service entity, use?

a. Sales

b. Inventory

c. Cost of Goods Sold

a.All of the above

Problem 2: The two main inventory accounting systems are the following

a. purchase and sale.

b. returns and allowances.

c.cash and accrual.

d.perpetual and periodic.

 

Reference no: EM132818002

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