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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Related Book For
Financial Accounting
ISBN: 9780133118209
2nd Edition
Authors: Charles T. Horngren, Jr. Harrison, Walter T.
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