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Can you pls.expalin it to me in simple terms. Thanks if I had a sale of a product for $ 20,000, and the cost of

Can you pls.expalin it to me in simple terms. Thanks

if I had a sale of a product for $ 20,000, and the cost of the inventory sold is $10,000, what and when are my entries under perpetual and periodic?What's my gross profit?

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