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1. What is a merchandise company? 2. Describe the difference between wholesalers and retailers? 3.Describe the difference(s) between the periodic and perpetual inventory accounting system?

1. What is a merchandise company?
2. Describe the difference between wholesalers and retailers?
3.Describe the difference(s) between the periodic and perpetual inventory accounting system?
4.What is gross profit percentage? How is it used as an indicator of profitability?

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