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Because merchants are in many places among the most common type of business, and because there are special issues in accounting for merchandising operations, this
Because merchants are in many places among the most common type of business, and because there are special issues in accounting for merchandising operations, this subject merits special consideration. Think of a popular merchant in Singapore. What type of merchandise do they stock? How do you think this merchant determines his or her cost of goods sold? Describe the method and "real" accounts.
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