Wal-Mart Stores, Inc., is the largest retailer in the world, with almost 4.000 stores. A key Wal-Mart advantage is its sophisticated perpetual inventory accounting system. Required You are the manager of a Wal-Mart store in Nashville, Tennessee. Write a one-paragraph business memo to a new employee explaining how the company accounts for the purchase and sale of merchandise inventory. Use the following heading for your memo: Date: To: From: New Employee Store Manager Subject: Wal-Mart's accounting system for inventories