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1.) What are the inventory accounts found in the accounting system of a manufacturing company, of a retail company, and of a custom service company
1.) What are the inventory accounts found in the accounting system of a manufacturing company, of a retail company, and of a custom service company (law firm, accounting firm, e.g.)?
2.) ABC company applies manufacturing overhead on the basis of machine-hours, using a predetermined overhead rate. At the end of the current year, the manufacturing overhead account has a credit balance. What are the possible explanations for this? What disposition should be made of this balance?
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