a. What is a perpetual inventory system? b. Describe three methods of calculating the cost of fungible inventories? c. Explain the circumstances in which each

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a. What is a perpetual inventory system?
b. Describe three methods of calculating the cost of fungible inventories?
c. Explain the circumstances in which each of these methods may be justifiable?

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a. What is a perpetual inventory system? b. Describe three methods of calculating the cost of fungible inventories? c. Explain the circumstances in which each

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