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a) Compare the periodic versus the perpetual system as a control device. b) What sort of organizations are likely to use the periodic inventory system?

a) Compare the periodic versus the perpetual system as a control device.

b) What sort of organizations are likely to use the periodic inventory system? What kind of organizations will prefer to use perpetual inventory system?

c) If management overstated the valuation of inventory, would it affect profit for the year?

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