The year-end entry to close beginning inventory in a perpetual inventory system is (p. 369) a. Income

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The year-end entry to close beginning inventory in a perpetual inventory system is (p. 369)

a. Income Summary XXX Inventory.

XXX

b. Inventory

\(\mathrm{XXX}\)

Income Summary XXX

c. Either of the above, depending on whether inventory increased or decreased during the period

d. Not needed

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Financial Accounting

ISBN: 9780133118209

2nd Edition

Authors: Charles T. Horngren, Jr. Harrison, Walter T.

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