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Explain why proper inventory valuation is so important to the calculation of a company's bottom line net income. What is the meaning of taking a

Explain why proper inventory valuation is so important to the calculation of a company's "bottom line" net income.

What is the meaning of taking a physical inventory and why is it important to take a physical inventory when using a perpetual inventory system.

Explain the accountant's role regarding taking a physical inventory.

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